Kolkata, Sep 12 (IANS): The CBI on Friday arrested two directors of the West Bengal-based Rose Valley Group for alleged complicity in the chit fund scam, an official said.

The group's chairman Gautam Kundu is already behind bars arrested by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act for mobilising public money without proper sanction of the Securities and Exchange Board of India.

"The directors - Shibamoy Dutta and Ashok Kumar Saha - were arrested from the city. They allegedly had long association with the group and were active in conspiring with Gautam Kundu, in cheating and misappropriation of funds," said a Central Bureau of Investigation officer.

"Dutta from Kolkata, was allegedly instrumental in operations in West Bengal and Saha, a resident of Agartala, was the main person in Tripura. The arrested duo will be presented before a court on Saturday," added the officer.

The Rose Valley Group is alleged to have collected more than Rs.10,000 crores through illegal collective investment schemes.