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The Kolkata Police on Friday detained PN Manna, Founder and Chairman of the MPS Greenery Developers Ltd.
The MPS Group said to have raised money from depositors through various plantation schemes.
Police are yet to confirm of Manna’s arrest.
MPS is one of those firms that like Saradha and Rose Valley have been under the SEBI scanner for alleged ponzi schemes.
According to sources, Manna had come down to answer queries over his schemes to the Justice Shyamal Sen Commission. The Commission was set up to provide relief to those duped by the Saradha Group and other similar companies of the State.
However, the police is said to have detained Manna, citing cases that have been filed against him at Bankura by some depositors. The depositors alleged that they have been duped through his investment schemes.
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