Kolkata: A West Bengal government owned film centre in Kolkata has reportedly refused to screen a movie on the chit fund scam. State-owned Nandan film centre says it will not screen the movie 'Kagojer Nouka' (which means Paper boat). The movie's director has alleged that the cinema hall authorities have not previewed the film despite submitting documents well in advance. The film has also not found any takers among multi-plexes...
12:12 PM, May 14, 2013
Kolkata: The Saradha Group chit fund fiasco has inspired a new movie in West Bengal. Tollywood has drawn inspiration from the Saradha Group collapse. All eyes are now on the latest release, 'Kagojer Nouka' or 'The Paper Boat', which metaphorically means an object that doesn't stay afloat for a long time. Incidentally, the film stars Dadasaheb Phalke-winner Soumitra Chatterjee playing the character of the prototype of Saradha boss and scamster...
09:14 AM, May 10, 2013
Kolkata: The West Bengal government has sealed the offices of MPS group, a business house that has an estimated liability of Rs 17,000 crore and is under the scanner of the Securities and Exchange Board of India (SEBI). The crackdown comes after the collapse of Saradha group's chit fund business in April, which affected thousands of depositors. Panicking depositors and agents protested outside the MPS group's office at Lake Town...
09:58 AM, May 05, 2013
TMC leader and former railway minister Dinesh Trivedi has said that there has to be a lot of transparency while running the Railway Minitry. He said the only job of a Railway Minister is to lay down the policies. In an interview with the CNN-IBN, Trivedi said that PM must step in, as railway is a huge infrastructure. The anti-corruption wing of the CBI had on Friday arrested Railway Minister ...
04:25 PM, May 04, 2013
Kolkata: Under massive pressure over the chit fund scam, West Bengal will on Tuesday enact a new law to deal with companies that take public deposits. But it is based on an old draft that has been withdrawn and its critics say it will do more harm than good. The draft circulated among West Bengal's lawmakers on Saturday shows it to be more or less a copy of an old...
10:20 AM, Apr 30, 2013
Kolkata: The Trinamool Congress MP, Kunal Ghosh was on Monday summoned by the Bidhannagar Police for interrogation over the multicrore Saradha chit fund scam. Saradha group promoter Sudipta Sen and his aide Debjani Mukherjee had alleged that Kunal Ghosh had played a role in the fraud. Ghosh, however, denied all the charges against him, alleging it was a conspiracy. "Lies are being spread about me. The probe will bring out...
06:05 PM, Apr 29, 2013
Kolkata: In the wake of the collapse of the Saradha Group, an under pressure Mamata Banerjee is all set to bring a new law that allows takeover of chit fund companies and confiscation of properties. The opposition though has slammed the move saying the Bill has nothing new. This comes even as another investor committed suicide in Purulia. The draft of the new Bill that was circulated among West Bengal's...
07:53 AM, Apr 28, 2013
Meanwhile, TMC MP Kunal Ghosh, one of the two accused of blackmailing Saradha group promoter Sudipta Sen, has offered to resign if he is told to do so. ...
09:59 PM, Apr 27, 2013
Transport minister and senior TMC leader Madan Mitra said that he was never the president of any employees association of the Saradha Group. ...
06:58 PM, Apr 27, 2013
Rose Valley's chairman Goutam Kundu wrote to West Bengal CM Mamata Banerjee on April 23 seeking protection from the administration. He claimed in his letter that his group had assets worth Rs 10,000 crore, and the money collected from depositors was safe in his hands. ...
11:53 PM, Apr 26, 2013
Kolkata: The chit fund scam in West Bengal is getting bigger with market regulator Sebi turning the heat on over a dozen other companies running similar Ponzi schemes. People are rushing to withdraw Rs 20,000 crore invested in these companies. Sebi has asked the government to look into the operations of all these companies. One such company is the Rose Valley Group, which has now approached West Bengal Chief Minister...
09:45 AM, Apr 26, 2013
Kolkata: A Congress link to West Bengal's Saradha chit fund scam has surfaced. CNN-IBN has accessed a letter written by Congress MP from Malda and Union Minister of State Abu Haseem Khan Chowdhury to Prime Minister Manmohan Singh where he shields the Saradha group. In the letter dated March 15, 2012, Chowdhury has withdrawn his complaint of September 2011 against Saradha Realty and has defended the company. Chowdhury urged the...
03:23 PM, Apr 25, 2013
Kolkata: West Bengal Chief Minister Mamata Banerjee on Wednesday defended her government in the chit fund scam and lauded the police force for doing a "good job". She also announced a Rs 500 crore relief fund for the small and medium-term investors hit by the scam. She said that Rs 150 crore of the fund would be raised through a 10 per cent surcharge on cigarettes and the rest through...
07:03 PM, Apr 24, 2013
Kolkata: CNN-IBN has accessed West Bengal chit fund scam accused Saradha group promoter Sudipta Sen's letter to the Central Bureau of Investigation (CBI) dated April 6. Sen's letter to the CBI names top politicians, journalists, lawyers as having benefited from his company. Sen, in his letter, alleges that he forayed into the media business because he initially came under vicious attack from Bengal's Pratidin newspaper represented by TMC MP Kunal...
04:01 PM, Apr 24, 2013
Amid growing public outrage over an allegedly fraudulent investment scheme run by Saradha group, market regulator has begun a fresh probe into the fund-raising activities of the Kolkata-based entity. The capital market regulator is looking into whether its Collective Investment Scheme (CIS) regulations were violated while raising funds from the public, a senior official said. ...
11:45 PM, Apr 23, 2013
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