New Delhi: The Securities and Exchange Board of India (SEBI) on Tuesday ordered Saradha Realty India and its MD Sudipta Sen, accused in the West Bengal chit fund scam, to wind up all its collective investment schemes and refund money to the investors within three months. The SEBI order said that Saradha Realty and its chief were barred from the securities market till all the money was refunded to the...
10:24 PM, Apr 23, 2013
The Saradha chit fund scam has left hundreds of investors and agents in the lurch in West Bengal. ...
10:02 PM, Apr 23, 2013
Three people were arrested on Tuesday in Jammu and Kashmir in connection with the West Bengal chit fund scam. ...
09:57 PM, Apr 23, 2013
Kolkata: The properties of West Bengal chit fund scam accused, Saradha group promoter Sudipta Sen have been seized, the state police said on Tuesday. Arnab Ghosh, ADC, Detective Department, told reporters that the West Bengal Police had kept a track on Sen's movements since the case came to light. "We have arrested Arvind Singh Chouhan, Sudipta Sen and Debjani Mukherjee from Sonmarg in Ganderbal district of Jammu and Kashmir. We...
08:12 PM, Apr 23, 2013
Three people, including the promoter of the Saradha group, Sudipta Sen, were arrested in Sonmarg, Jammu and Kashmir on Tuesday. ...
06:59 PM, Apr 23, 2013
Three accused in the West Bengal chit fund scam were arrested from Sonmarg in Jammu and Kashmir on Tuesday. ...
06:54 PM, Apr 23, 2013
Kolkata/Srinagar: Three people, including the promoter of Saradha group, Sudipta Sen, were arrested in Sonmarg, Jammu and Kashmir on Tuesday in connection with the West Bengal chit fund scam. The three people were reportedly on their way from Srinagar to Sonmarg when they were intercepted by the Jammu and Kashmir Police. While a close aide of Sen, Debjani Mukherjee was the second person arrested, the third person, sources say is...
05:34 PM, Apr 23, 2013
New Delhi: 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. Sources said that Sebi began the latest round of investigation after certain complaints...
01:42 PM, Apr 23, 2013
Kolkata: The West Bengal government has stepped in for damage control after chit fund company Saradha Group went bust reviving memories of the collapse of Sanchayita Investments in the early eighties when several investors and agents committed suicide. Sanchayita collected more than Rs 120 crore in 1980 before its offices were raided and it folded up with only a handful of people getting back a minuscule amount of money. Two...
01:07 PM, Apr 23, 2013
Kolkata: There was another suicide bid by a Saradha Group agent hit by the chit fund scam in West Bengal. Twenty-eight-year old Tapasi Singha tried to commit suicide by consuming sleeping pills. She had a liability of Rs 5,30,000. Tapasi and her husband Sri Nandan Singha were agents of Saradha realty. She has been admitted in Jangipur Sub Divisional Hospital. As lakhs of investors in West Bengal lose their savings...
12:47 PM, Apr 23, 2013
Kolkata: As lakhs of investors in West Bengal lose their savings in a chit fund scam following the collapse of the Saradha Group, Chief Minister Mamata Banerjee has been shifting the blame on the Left. This even as heat builds on Trinamool Congress MP Kunal Ghosh who headed Saradha group's media unit. But he claims it was a while back when he was working as a journalist. Advocate Basabi Roy...
10:46 AM, Apr 23, 2013
As lakhs of investors in West Bengal lose their savings in a chit fund scam following the collapse of the Saradha Group, the state government on Monday formed a special investigation team (SIT) and instituted a high-level inquiry into chit fund companies operating in the state. ...
11:55 PM, Apr 22, 2013
CNN-IBN's Principal Correspondent Priyanka Gupta joined IBNLive readers for an interaction on the West Bengal chit fund scam. Q. Is this because Trinamool is in limelight right now while in other states such scams with thousands of crores are generally brushed under the carpet like in UP or in Karnataka where direct govt role or big corporates are involved. Asked by: Ravi A. I am not too sure if it...
07:13 PM, Apr 22, 2013
Kolkata: As lakhs of investors in West Bengal lose their savings in a chit fund scam following the collapse of the Saradha Group, the state government on Monday formed a special investigation team (SIT) and instituted a high-level inquiry into chit fund companies operating in the state. Earlier, the Chief Minister of the state Mamata Banerjee on Monday accused the Centre and the Left of trying to defame her by...
04:44 PM, Apr 22, 2013
New Delhi: The Calcutta High Court on Monday granted leave to file a PIL in the West Bengal chit fund scam. The PIL sought a CBI enquiry into the scam and compensation to the depositors, also alleging vicarious liability by the government. The PIL said it was the duty of the state and the central government to pay compensation to the depositor and also to fix the responsibility of the...
12:32 PM, Apr 22, 2013
New Delhi: The Delhi Police on Monday arrested the General Secretary of Students Federation of India (SFI) and five others in connection with the heckling incident during which West Bengal Chief Minister Mamata Banerjee and state Finance Minister Amit Mitra were attacked by suspected SFI activists in Delhi as they tried to enter the Planning Commission building. The Trinamool Congress on Monday warned that it will not allow Parliament to...
11:57 AM, Apr 22, 2013
Kolkata: As the chit fund meltdown is spreading like a contagion in rural Bengal, a 50-year-old woman, who had deposited Rs 30,000 in Saradha Group, on Sunday, succumbed to her injuries after she set herself on fire. The woman set herself on fire on Saturday evening at her home after coming to know that the company had gone bust. Meanwhile, the Mamata government is on the defensive with the Left...
08:42 AM, Apr 22, 2013
Kolkata: Communist Party of India-Marxist (CPI-M) leader Asim Dasgupta on Sunday urged the central government to step in and launch a probe by the Central Bureau of Investigation (CBI) into the collapse of chit fund-funded company Saradha Group. Dasgupta, a noted economist who held the finance portfolio for 24 years during the Left Front rule, also rejected allegations that chit fund companies had flourished during the LF regime. "My question...
04:23 AM, Apr 22, 2013
Kolkata: A 50-year-old woman, who had deposited money in chit fund company Saradha Group, on Sunday succumbed to her injuries after she set herself on fire, while a man tried to poison himself, even as political parties traded charges over the scandal. Urmila Pramanik, a resident of Baruipur in South-24 Parganas district, who had invested Rs 30,000 with the chit fund company, set herself on fire on Saturday evening at...
10:23 PM, Apr 21, 2013
Midnapore: Even as the country agitates over the rape of a minor in Delhi, another shameful incident has come to light in West Bengal's East Midnapore district. A 32-year-old man has been arrested for allegedly trying to rape a 3-year-old child. The accused is a truck driver and the victim was his neighbour's daughter. He will be produced in court on Monday. The victim has been admitted to a local...
09:59 PM, Apr 21, 2013
