Chit Fund Fraud

  • BL Kushwaha, wanted in chit fund fraud case, takes oath as BSP MLA February 7, 2014

    Newly-elected BSP MLA from Dholpur BL Kushwaha, wanted in a chit fund fraud case, on Friday took oath of office and constitution in the chamber of Rajasthan Assembly Speaker. Speaker Kailash Meghwal administered the oath of office and constitution to Banwari Lal Kushwaha in his chamber as the session was adjourned...
  • Kolkata: Violence breaks out at an anti-chit fund rally May 14, 2013

    Kolkata: Violence broke out on Tuesday at an anti-chit fund rally, held by Democratic Students Organisation (student wing of Socialist Unity Centre of India) in Kolkata. Police had to resort to lathicharge to disperse the participants of the rally, who were trying to hold a law violation programme. There are reports of...
  • WB chit fund scam: TMC hits back at Left for meeting PM, FM May 9, 2013

    Kolkata: Accusing the Left of failing to protect investors in ponzi schemes during its prolonged rule in West Bengal, the Trinamool Congress on Thursday hit back after Left leaders met the Prime Minister and Finance Minister seeking a CBI probe into the chit fund scam. "Who are asking for a CBI...
  • Odisha: Police arrest chit fund company's manager May 8, 2013

    Kendrapara: A manager of a chit fund was arrested from here even as reports of fraud by bogus non-banking financial companies trickled in from various pockets of Kendrapara and Jagatsinghpur district of Odisha. After DP finance, another chit fund Artha Tatwa (AT) has disappeared cheating investors in Kujang (Jagatsinghpur) and...
  • Chit fund scam: Mamata to bring in law against defaulting cos April 28, 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...
  • Fresh uproar over coalgate; Rajya Sabha adjourned April 25, 2013

    New Delhi: Proceedings were washed out for the third consecutive day in Rajya Sabha as BJP created uproar on the coalgate issue demanding resignation of Prime Minister Manmohan Singh and dismissal of Law Minister Ashwani Kumar. Lok Sabha, which did not transact any business during the last...
  • Rajya Sabha adjourned till noon after BJP, SP uproar April 25, 2013

    New Delhi: Rajya Sabha was on Thursday was adjourned till noon after opposition BJP and UPA ally SP created ruckus in the House over separate issues. While BJP persisted with its demand for resignation of Prime Minister Manmohan Singh over the coalgate scam, SP members trooped into the well raising...
  • WB chit fund scam: SEBI acts, ducks any reposnsibility April 23, 2013

    SEBI chief UK Sinha said people have tendency to invest in schemes of fast money making. ...
  • Under fire, Banerjee tries to deflect attack to the Left April 23, 2013

    Kolkata: With her government drawing flak after the Saradha Group downed shutters, West Bengal Chief Minister Mamata Banerjee on Monday blamed the erstwhile Left Front regime for the mushrooming of chit funds, alleging it had not even acted on presidential advice for a strong legislation to contain the menace. Breaking her...
  • Chit fund scam: WB govt forms SIT to probe companies April 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...
  • Chit fund scam: One of the directors of Saradha Group arrested April 21, 2013

    Kolkata: One of the directors of the 'chit fund' company Saradha Group was on Saturday arrested while its Chairman and Managing Director Sudipto Sen was still at large. "We have arrested Manoj Kumar Nagel who is one of the directors of the company from Bidhannagar. We are also looking out...