Bhubaneswar: Continuing its action against chit fund companies and others duping investors, police on Saturday sealed the corporate office of Seashore Group and took Artha Tatwa group chief Pradip Sethi to its custody for four days. The Crime Branch failed to arrest Seashore Group chief Prashant Das, who obtained an anticipatory bail from the Orissa High Court, but sealed its corporate office and seized certain documents and computers, said Crime Branch DIG Rajesh Kumar, who is looking after the economic offence wing.
The company, according to an official estimation, raised about Rs 900 crore from Odisha market by luring investors with interest of about 24 per cent. The Crime Branch of police have meanwhile written the Register of Companies to cancel licence of Seashore Group.
Meanwhile, police took Artha Tatwa chief Pradip Sethi to its custody till May 22. Sethi's police remand was significant as he had allegedly given bribe to certain politicians in the state in order to operate his business smoothly.
...
more
10:13 PM, May 18, 2013
Kolkata: West Bengal chit fund scam accused Sudipta Sen and Arvind Chauhan have been remanded to judicial custody till May 22. The court has reserved order on the third accused Debjani Mukherjee as she is in hospital. Mukherjee was admitted after complaining of stomach ailment. Meanwhile, Congress workers protested in Kolkata against TMC leader Kunal Ghosh, who is alleged to have links in the case. On Friday, the manager and...
04:23 PM, May 18, 2013
Vadodara: The top two floors of a five-storey residential building in Vadodara collapsed on Friday night, hours after all the occupants had evacuated it. "Mahavir Swami Apartment located in Kapdipole area of Raopura had developed cracks and started leaning in the wee hours today," acting city engineer of Vadodara Municipal Corporation Shailesh Mistr said. The 16 families living there were asked to vacate and power and piped gas supply to...
11:17 PM, May 17, 2013
New Delhi: Against the backdrop of recent chit fund controversy in West Bengal, a Parliamentary committee on Friday slammed such schemes with demands for putting in place a single regulator to oversee their functioning or scrapping them altogether. The Parliamentary Standing Committee on Finance closely scrutinised the functioning of such schemes which recently led to a series of suicides in West Bengal. Senior officials from RBI, CBDT, SEBI, Corporate Affairs...
07:40 PM, May 17, 2013
Kolkata: The Saradha chit fund scam's suspected kingpin Sudipta Sen who earlier had reached out to the CBI accusing West Bengal's ruling Trinamool Congress of complicity in the swindle, has now approached the court opposing probe by the central agency. Sen, now behind bars, has not only filed an affidavit in the Calcutta High Court expressing faith in the state government's investigation as opposed to a Central Bureau of Investigation...
10:30 PM, May 16, 2013
Kolkata: Saradha group chairman Sudipta Sen, who has been accused of cheating lakhs of investors of their money running into thousands of crores, on Wednesday opposed a Central Bureau of Investigation (CBI) probe into the complaints against him and his companies in an affidavit filed before the Calcutta High Court. He claimed before a division bench comprising Chief Justice Arun Mishra and Justice Joymalyo Bagchi that the Special Investigation Team...
10:20 AM, May 16, 2013
Banka: Cracking the UPSC is a difficult proposition, especially for aspirants who live in Naxal-infested areas, with no access to proper coaching facilities. But all that has changed in Bihar's Banka district due to the efforts of District Magistrate Dipak Anand and his deputy Sub-Divisional Magistrate Mithilesh Mishra. Together, they conduct free coaching sessions for students taking the UPSC exam from this region. With no proper guidance, the youth in...
11:02 PM, May 15, 2013
Chennai: Despite good opening in the domestic market, Tamil crime-comedy 'Soodhu Kavvum' and Telugu romantic-drama 'Sukumarudu' have failed to keep the cash registers ringing in the overseas market. 'Soodhu Kavvum' collected Rs 15.68 lakh in US, while Aadi Pudipeddi-starrer 'Sukumarudu' raked in merely Rs 89,735," according to a tweet posted by trade analyst, Taran Adarsh on his Twitter page. Pointing out that big stars are a big draw in the...
10:51 AM, May 15, 2013
Moscow: Russia expelled a US diplomat on Tuesday after saying he had been caught red-handed with disguises, special equipment and wads of cash as he tried to recruit a Russian intelligence agent to work for the CIA. Apparently detained in an incongruous-looking blond wig, with props reminiscent of a schoolboy's spy kit, US Embassy Third Secretary Ryan Fogle hardly looked like a Cold War secret agent. But the announcement still...
02:46 AM, May 15, 2013
Bhubaneswar: Weeks after CNN-IBN reported a political nexus in Odisha's Rs 20,000 crore investment scam, the crime branch has now arrested the owner of another financial company. The arrested owner of Artha Tatwa, Pradip Sethi, has alleged that ministers, MLAs, top politicians and bureaucrats are also involved in the financial scam. He has claimed that he has video and audio evidence to prove the involvement of politicians. Pradip has now...
09:30 AM, May 14, 2013
New Delhi: With an eye on 2014 Lok Sabha elections, government on Monday unveiled a series of audio-visual clips as a part of its multi media campaign to highlight its achievements and showcase impact of UPA's policies in the last nine years. Information and Broadcasting minister Manish Tewari, in whose presence the presentation was made, said the multimedia initiative was different from the 'India Shining' campaign of the NDA in...
09:40 PM, May 13, 2013
Bhubaneswar: Chief of controversial non-banking financial institution (NBFI) Artha Tatwa (AT) Group Pradip Sethi, was arrested and sent to jail on Monday on charges of cheating investors in different parts of Odisha. Sethi, who was playing hide and seek with police for the past three months, was finally nabbed on Sunday night and produced in a court here on Monday. "Sethi has been remanded to judicial custody for 14 days,"...
05:50 PM, May 13, 2013
Chennai: If you want to have a large fan base then it's very important to diversify to other languages, feels Telugu actor Aadi Pudipeddi, who wants to make his presence felt in other languages soon. "Doing films in multiple languages certainly helps you increase fan base. But what is most important is that you need to wait for the right time to diversify because a bad film in any language...
01:48 PM, May 13, 2013
Cast: Aadi Pudipeddi, Nisha Aggarwal, Sharada, G Krishna, Chandra Mohan, Bhavna Ruparel, Srinivasa Avasarala, Brahmanandam, Maruthi Rao, Raghu Babu, Jayaprakash Reddy, Rao Ramesh and Tanikella Bharani Director: G Ashok Rating: 2.5 out 5 Some films take time to strike a chord with the audience, but 'Sukumarudu', about greedy NRI protagonist, makes an instant connect with viewers. It's another Telugu film high on emotion with good performances. However, what makes the...
06:17 PM, May 12, 2013
Kolkata: Sudipta Sen's alleged aide Debjani Mukherjee, who was arrested in connection with the West Bengal chit fund scam, distanced herself from the Saradha Group chairman through a letter that was made public by her lawyers. Debjani in her letter, alleged that Sudipta masterminded the racket while she was merely a salaried employee who was manipulated. She also blamed the media for misrepresenting her relationship with Sudipta. Mamata government has...
05:22 PM, May 11, 2013
Kolkata: Chit fund aided Saradha Group promoter Sudipta Sen's close aide Debjani Mukherjee on Friday claimed she was only a "trustworthy employee" of Sen and that she was sacked for raising her voice against the company's fund collection method. "When I found out that my boss was doing business in a way that was against my principles, I started raising my voice against him. Not considering my dedication towards the...
05:40 AM, May 11, 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
New Delhi: The Left parties on Thursday sought a court-monitored CBI probe into the West Bengal chit fund scam and accused the Trinamool Congress-led government of not intervening to check activities of companies with suspicious financial dealings in the state. Senior leaders of Communist Party of India-Marxist, the Communist Party of India, the Revolutionary Socialist Party and Forward Bloc met President Pranab Mukherjee and Prime Minister Manmohan Singh separately and...
03:25 AM, May 10, 2013
Kolkata: Chit fund company Saradha group's chief Sudipta Sen was on Thursday sent to 9-day police custody, along with two of his close aides - Debjani Mukherjee and Arvind Singh Chouhan. The Bidhan Nagar police had sought a 14-day extension of their custody. The Saradha group allegedly duped lakhs of investors in a chit fund scheme. The police have unearthed 254 bank accounts and close to 200 properties of the...
04:46 PM, May 09, 2013
Kolkata: Saradha Group chairman Sudipta Sen and his close aide Debjani Mukherjee were produced in a court on Thursday as their 14-day custody ended. Sources said police were likely to add two more charges as fresh FIRs have been registered against them on the basis of the new complaints filed by the investors. The police were also likely to ask for their custody for two more weeks. "The 14 days...
12:17 PM, May 09, 2013
