Guwahati, Oct 30: After a 71-day disappearance, Deepankar Barman, owner of DN Stock & Consultancy, was brought back to the city on Tuesday night and subsequently remanded to seven days of police custody on Wednesday by the District & Sessions Judge, Kamrup Metro. Barman, who faces charges in a multi-state fraud case estimated at over Rs 7,000 crore, was apprehended by a city police team led by Panbazar ACP Amrit Mahato near the Arambol Bridge in Goa on October 27.
Initially, Barman was presented before the Chief Judicial Magistrate (CJM), who referred the case to the District and Sessions Judge due to the severity of the charges, carrying potential penalties exceeding 10 years. A new case has been filed against him under the Banning of Unregulated Deposit Schemes (UDS) Act, 2019, at Paltaanbazar police station (case no. 374/2024), while his first case (no. 288/2024) had previously been transferred to the Central Bureau of Investigation (CBI) for further inquiry.
Beyond Assam, law enforcement from six other states is expected to seek custody of Barman, as numerous investors from these areas had invested significant sums in DN Stock & Consultancy. Many of these investors now hold out hope for recovery following statements from Assam’s Director General of Police (DGP), GP Singh, who noted that provisions within the UDS Act may allow for partial financial redress during the investigation and asset liquidation.
DGP Singh explained that under the UDS Act, seized assets tied to fraudulent schemes could be liquidated, with proceeds potentially directed to compensating defrauded investors who can substantiate their claims. A dedicated committee will be formed to oversee the liquidation of Barman’s assets and to ensure equitable distribution to affected investors, a development providing some relief while the investigation unfolds.
A young woman, who invested Rs 1.55 lakh in DN Stock & Consultancy across two schemes, expressed hope of recovering her money after DGP Singh’s remarks about possible financial recourse. “I invested Rs 1 lakh in a yearly scheme with a promised 120% return and Rs 55,000 in a monthly scheme with a 35% return. I was told my money would be invested in stocks,” she shared, speaking anonymously.
The woman explained that she made her investments in August, initially receiving the first monthly payout. However, by the time of the second payout, the fraud had come to light. When she visited the company’s office in September at Bora Service, she found it crowded with other investors waiting for their returns.
“Deepankar Barman was distributing cash in person due to issues with the online system, but the funds ran out before my turn,” she recalled, having been advised to return the next day. Later, the company issued a message stating that investors would receive 3% compound interest on their principal and accrued profits.
Since Barman’s disappearance, investors remain in suspense about their funds. The woman noted that her initial decision to invest was influenced by a family member’s positive experience; he had invested ₹10 lakh in DN Stock & Consultancy and had received significant returns.
