The main legal point established in the judgment is the need for cooperation between the CBI and State Police Agencies in the investigation of chit fund cases as directed by the Hon'ble Supreme Court.

SHIVAKANT PRASAD, J.

1. In the instant two revisional applications, the petitioner Central Bureau of Investigation Economic Offence has assailed the order dated 23rd October, 2017 and subsequent orders dated 30th August, 2018 and 28th September, 2018 passed by the learned Chief Judicial Magistrate, 24-Parganas (South), Alipore, in CGR 3216/17 arising out of the Ballygunge P.S. Case No. 103 of 2017 dated 03.8.2017 under Sections 142, 143, 149, 448, 353, 427/34 of the Indian Penal Code, inter alia, on the grounds that the impugned orders are unreasoned, misconceived, without application of judicial mind and without jurisdiction because the learned Magistrate has acted with material irregularity in passing the said order alien to the case for the purpose of investigation of a particular case under reference.

2. Mr. Kaushik Chanda learned Additional Solicitor General assisted by Mrs. Chandreyi Alam submitted that RC case being 39/S/2014 (Rose Valley case) is one such case against one of the 44 companies which is still pending before the Special CJM/CBI/ Bhubaneswar before whom first charge-sheet was filed on 07.01.2016 further two supplementary charge-sheets dated 27.4.2017 and 16.5.2018 were filed keeping further investigation of the case open in terms of the provisions enshrined under Section 173(8) of Cr. P.C.

3. It is contended that the CBI is examining all the avenues including larger conspiracy, role of the Regulators and Money trail in this case in tune with the order dated 09.5.2014 of the Hon'ble Supreme Court of India, in which case CBI investigated into affairs of Rose Valley Group, which has collected around Rs. 17,000 Crores through their illegal money collection business and the CBI is also investigating RC 04(S)/2014 into the affairs of Saradha Group, which has collected around Rs. 2459 Crores from public through their illegal money collection business in which cases the roles of many influential persons of the state surfaced and necessary legal action against them were taken by the CBI.

4. With the above submission Mr. Chanda adverts my attention to the observation and the direction passed by the Hon'ble Supreme Court on 09.5.2014 in case of Subrata Chattoraj vs. Union of India & Ors. reported in, (2014) 8 SCC 768 in paragraphs 36, 37, 38, 39, 40, 41, 42, 43, 44, 45 and 46 which are reproduced hereunder for useful consideration in the matter:

"36. The question is whether the above features call for transfer of the ongoing investigation from the State Police to the CBI. Our answer is in the affirmative. Each one of the aspects set out above in our view calls for investigation by an independent agency like the Central Bureau of Investigation (CBI). That is because apart from the sensitivity of the issues involved especially inter-state ramifications of the scam under investigation, transfer of cases from the State police have been ordered by this Court also with a view to ensure credibility of such investigation in the public perception. Transfers have been ordered by this Court even in cases where the family members of victim killed in a firing incident had expressed apprehensions about the fairness of the investigation and prayed for entrusting the matter to a credible and effective agency like the CBI.

37. Investigation by the State Police in a scam that involves thousands of crores collected from the public allegedly because of the patronage of people occupying high positions in the system will hardly carry conviction especially when even the regulators who were expected to prevent or check such a scam appear to have turned a blind eye to what was going on. The State Police Agency has done well in making seizures, in registering cases, in completing investigation in most of the cases and filing charge-sheets and bringing those who are responsible to book. The question, however, is not whether the State police has faltered. The question is whether what is done by the State police is sufficient to inspire confi