Chit Fund Scam

  • TMC questions timing of ED probe into Saradha chit fund scam 21-04-2014 09:12 AM

    Kolkata: The Trinamool Congress has raised questions at the timing of the Enforcement Directorate's probe into the Saradha chit fund scam, alleging political motivation behind the investigative activity. Finance and Industry Minister of West Bengal Amit Mitra questioned the CBI and ED's motive behind launching the probe just two days...
  • Congress questions Mamata's meeting with Anna 21-02-2014 09:29 PM

    Congress in West Bengal on Friday criticised Anna Hazare's meeting with Chief Minister Mamata Banerjee, wondering if the Gandhian would agree to hold a dharna in Kolkata for the victims of Saradha Chit Fund scam. "I wonder whether Anna Hazare, who claims to be an anti-corruption crusader, is aware of...
  • Saradha Chit fund scam: Group Chairman sentenced to 3 years in jail 21-02-2014 02:49 PM

    Kolkata: A court in Kolkata has sentenced the chairman of the Saradha Group Sudipta Sen to three years in jail in connection with non payment of Provident Fund to his employees to the tune of Rs 3.5 lakh. Sen had confessed to the crime in court. It is one of...
  • West Bengal: Mamata government passes bill against chit funds again 12-12-2013 06:45 PM

    Kolkata: Seven months after passing legislation aimed to protect interests of chit fund depositors but failing to get presidential assent, the West Bengal Assembly on Thursday cleared another bill on the issue, amidst the opposition's apprehension that it would again be sent back for having unconstitutional provisions. The West Bengal...
  • Saradha scam: Kunal Ghosh sent to 14 days judicial custody 06-12-2013 06:48 PM

    Howrah (WB): A local court on Friday remanded suspended Trinamool Congress MP Kunal Ghosh, who was arrested for alleged involvement in the multi-crore Saradha scam, to 14 days judicial custody. Howrah Chief Judicial Magistrate Arun Kumar Nandi sent Ghosh to judicial custody till December 20. On November 30, the Howrah...
  • Saradha scam: Suspended TMC MP Kunal Ghosh remanded to police custody 24-11-2013 03:57 PM

    Kolkata: Suspended Trinamool Congress MP Kunal Ghosh on Sunday was remanded to five days police custody by Bidannagar court in the Saradha chit fund scam. Ghosh was arrested on Saturday and is accused of being a part of the conspiracy with Saradha group chairman Sudipto Sen. The police claimed that...
  • Saradha scam: Suspended TMC MP Kunal Ghosh reaches court 24-11-2013 10:47 AM

    Kolkata: Suspended Trinamool Congress MP Kunal Ghosh, who was arrested by the Bidhannagar Police in connection with the Saradha Group chit fund scam, has reached Bidannagar court. The police claimed that the evidence indicates that Kunal Ghosh was involved in the conspiracy along with Saradha Group chairman Sudipta Sen. Ghosh...
  • No compromise with discipline, Mamata Banerjee warns party rebels 30-09-2013 05:17 PM

    Kolkata: Issuing a stern warning apparently aimed at rebel party MPs, Trinamool Congress chief Mamata Banerjee Monday said the party will not compromise on disciplinary issues. "There are one or two people, not many, who win elections riding on Trinamool's shoulders, but when their pension is assured, and the next...
  • Three TMC MPs get show-cause notice for anti-party statements 21-09-2013 11:19 AM

    Kolkata: Three Trinamool Congress MPs have been issued show-cause notices for making anti-party statements. Notices have been issued against TMC MPs Kunal Ghosh, Tapas Pal and Shatabdi Roy. Kunal Ghosh has claimed that he has been unfairly accused in the Saradha chit fund scam and if the need arises he...
  • Odisha chit fund probe panel extends deadline 17-09-2013 02:04 PM

    A commission probing the multi-crore-rupee chit fund scam in Odisha has extended the deadline for submission of complaints till September 30 as more people are coming ahead with grievances, a commission official said on Tuesday. The one-man panel led by RK Patra, former chief justice of the Sikkim High Court,...
  • Panel probing Odisha chit-fund scam extends deadline 02-09-2013 11:51 AM

    Bhubaneswar: A one-man commission probing the multi-crore-rupee Odisha chit-fund scam has extended the deadline for submission of complaints to Sep 18, the commission secretary said Monday. The commission was appointed in May to probe the alleged fraud committed by chit-fund companies and suggest ways to safeguard the interests of investors...
  • Saradha chit fund scam: SC issues notice to Centre, CBI, WB govt 18-07-2013 12:55 PM

    New Delhi: The Supreme Court on Thursday issued notice to the centre, West Bengal government, CBI and Securities and Exchange Board of India on a petition seeking transfer of the Saradha chit fund scam investigation to the premier probe agency. The apex court bench, headed by Chief Justice Altamas Kabir,...
  • Odisha: Seashore group CMD in two-day police custody 06-07-2013 08:51 PM

    Koraput (Odisha): A local court on Saturday remanded the CMD of a ponzi scheme company to two-day police custody, official sources said. A cheating case was registered against Prasanth Dash, the CMD of Seashore Group, at Jeypore police station on June 23 and the district police had approached the court...
  • Odisha chit fund: Seashore Group CMD's bail plea rejected 02-07-2013 11:40 AM

    Koraput: A district court on Monday rejected the bail petition of Seashore Group CMD Prashant Dash in the chitfund scam for the second time. The bail petition was rejected by the SDJM, Koraput Ajit Patnaik. "The court denied bail to Dash citing that investigation is under progress and a large...
  • WB chit fund scam: Court refuses CBI probe 19-06-2013 04:45 PM

    Kolkata: The Calcutta High Court on refused to grant the prayer for a CBI investigation into the multi-crore Saradha chitfund scam at the present stage. A division bench comprising Justice AK Banerjee and Justice MK Chaudhuri, passing its order on PILs seeking CBI probe into the scam, refused the prayer...
  • Howrah by-poll: TMC defeats CPM by 27,000 votes 05-06-2013 02:50 PM

    Howrah: The Trinamool Congress candidate Prasun Banerjee has won the Howrah by-poll over its CPI(M) rival Sridip Bhattacharya by 27,000 votes. This, however, was almost 10,000 votes less than the previous TMC victory at the seat. The result in the by-poll is seen as the trust vote for Chief Minister...
  • West Bengal: Results for Howrah by-poll to be announced today 05-06-2013 08:20 AM

    Kolkata: By-poll result for the Howrah constituency in West Bengal, which went in for polling on Sunday, will be announced on Wednesday. The election has been necessitated following the death of Trinamool Congress MP Ambika Banerjee on April 25. This will be the acid test for Trinamool Congress as it...
  • WB govt to soon get Centre's comments on chit fund bill: FM 04-06-2013 10:08 PM

    New Delhi: Union Finance Minister P Chidambaram on Tuesday said the West Bengal government will soon get comments of the Centre on the bill passed by the state assembly for protection of investors in chit fund schemes. "The Ministry of Finance has given its comments to the Ministry of Home...
  • 30 Minutes: Chit fund scams 02-06-2013 01:11 PM

    Year after year millions of Indians are cheated of their life savings. Fourteen people committed suicide and thousands in West Bengal lost their life savings after Saradha group went bust. ...
  • RBI cautions public on depositing money with entities 31-05-2013 10:37 PM

    Mumbai: Amid rising incidents of fraudulent investment schemes hitting investors, the Reserve Bank on Friday asked the public to carefully evaluate their decisions before depositing money with financial entities including NBFCs. The exhaustive advisory of dos and don'ts comes against the backdrop of investment schemes such as the multi-crore Saradha...
  • Kolkata: CPI(M) defies ban on law violation programmes 31-05-2013 06:24 PM

    Kolkata: CPI(M) on Friday defied a ban on law violation programmes in the metropolis and staged a protest demanding return of money to those defrauded by the Saradha chitfund scam among others. "The government is breaking the law every day and asking us not to hold law violations. The government...
  • Parl panel to submit report on chit funds in Monsoon session 31-05-2013 05:21 PM

    New Delhi: A Parliamentary panel looking into chit funds and ponzi schemes in the backdrop of Saradha scam in West Bengal, will give its recommendations on preventing recurrence of such incidents to Parliament in the forthcoming Monsoon session. "We have completed deliberations on the ponzi schemes and will submit our...
  • Odisha government orders judicial probe into the chit fund scam 30-05-2013 02:20 PM

    Bhubaneswar: The Odisha government has ordered a judicial probe into the chit fund scam. The government has requested the High Court to appoint a sitting judge to probe the scam and has requested to finish the probe in three months. The role of politicians and bureaucrats will also be probed....
  • Saradha chit fund scam: Assam Cong leader Matang Sinh questioned 29-05-2013 03:50 PM

    Kolkata: Assam Congress leader Matang Sinh has been questioned in connection with the Saradha chit fund scam. The police are probing money links between the main accused in the scam Sudipta Sen and Matang Sinh. Sen had named Matang Sinh and his wife Manoranjana Sinh in his letter to the...
  • Chit fund firms in Jharkhand swindle Rs 100 cr a month 29-05-2013 11:37 AM

    Bokaro: More than a month after the Sharada chit fund scam was exposed in West Bengal, CNN-IBN has found chit fund schemes mushrooming in Jharkand as well. Fraudulent companies are swindling Rs 100 crore per month in the state. It is hard to believe that a deserted office in the...
  • Sudipta Sen, 2 others sent to jail custody till June 3 28-05-2013 06:45 PM

    Canning (WB): Sudipta Sen, the chairman of Saradha Group, which allegedly defrauded thousands of small investors, and two others, were on Tuesday sent to judicial custody till June 3 in cases related to cheating by a court at Baruipur in South 24 Parganas district. Sudipta Sen along with Saradha director...
  • Odisha chit fund: Police probe links with media, builder 27-05-2013 02:50 PM

    Bhubaneswar: Police in Odisha have begun investigations into allegations linking some mediapersons and builders with a chit fund group after prima facie that there were financial transactions between them, an official said Monday. The commissionerate of police here is examining the bank accounts and other relevant documents of about 25...
  • WB govt to take over two TV channels of Saradha Group 23-05-2013 05:11 PM

    Kolkata: The West Bengal government has acquired two television channels - Tara Muzik and Tara News - which were previously owned by the Saradha Group. The two channels had to be shut down following the Saradha chit-fund crisis. Announcing the decision, Chief Minister Mamata Banerjee told reporters at Writers' Buildings...
  • Saradha chit fund scam: A month on, SIT's credibility being questioned 23-05-2013 11:29 AM

    Kolkata: It has been a month since Sharada chit fund scam accused Sudipta Sen was arrested. The scam has driven at least eight people to suicide, lakhs of investors lost their life savings and hundreds of agents have fled their homes. An SIT to probe the case was announced and...
  • WB chit fund scam: Saradha Group director admitted to hospital 22-05-2013 02:36 PM

    Kolkata: Debjani Mukherjee, one of the main accused in the West Bengal chit fund scam, was on Wednesday once again admitted to the state-run SSKM hospital in Kolkata. Debjani, a close associate of Saradha Group chairman Sudipta Sen, was earlier on Tuesday admitted to SSKM hospital in Kolkata. Doctors say...