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.
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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
New Delhi: It's a story that we have heard before. Perhaps different versions, but the milieu has been the same- of that of the plight of innocent south Asians in US post 9/11. Mira Nair's latest 'The Reluctant Fundamentalist' tries to explore the plight of an educated Pakistani man working in Wall Street post the terror attack. While the subject is not new- several films, documentaries and books have been...
10:56 AM, May 18, 2013
Bhubaneswar: At least 177 people were arrested in different parts of Odisha during the past week for their involvement in illegal money circulation and chit fund activities, a police official said on Friday. The crackdown on the firms began May 10, 2013 and about 200 offices of 84 companies were raided, Rajesh Kumar, deputy inspector general (economic offence wing) of the crime branch police, told IANS. The arrested include two...
05:45 AM, May 18, 2013
Bhubaneswar: With investors across Odisha demanding action against the chit fund companies which duped them of crores of rupees, opposition BJP and Congress on Friday respectively demanded judicial probe and CBI investigation into the matter. "As one chief of an accused chit fund company has said that some ministers and MLAs are hand-in-glove with him to cheat people, the government must reveal their names and announce a judicial probe into...
11:01 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
Acclaimed filmmaker Mira Nair's 'The Reluctant Fundamentalist' is based on a novel of the same name by Mohsin Hamid, and stars Riz Ahmed and Kate Hudson in the pivotal roles. Shabana Azmi and Om Puri will also be seen in the film. The film is about the meteoric rise and fall of a Pakistani migrant in the US. It shows a young man chasing corporate success on Wall Street and...
06:24 PM, May 17, 2013
Actor Arjun Kapoor's second movie 'Aurangzeb', where he plays a double role, released on Friday. The film also stars Rishi Kapoor and southern star Prithviraj. Another movie which hits the screens on Friday is 'The Great Gatsby'. It is a 3D adaptation of F Scott Fitzgerald's novel of the same name. The film which stars Leonardo DiCaprio also has Amitabh Bachchan in a cameo. Bachchan plays a shrewd and flamboyant ...
10:41 AM, May 17, 2013
Kolkata: West Bengal's Mamata Banerjee led government on Thursday released a performance report, claiming the state has clocked a growth rate higher than that of the overall country during the nearly two years it has been in power. The performance report showcasing the achievements of the state government was released at the state secretariat, four days before the regime completes two years in office. Making public the report titled "Powering...
11:35 PM, May 16, 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
Bhubaneswar: After nabbing over 160 people across Odisha on charges of running or helping illegal money laundering, the Economic Offence Wing (EOW) of the Crime Branch (CB), arrested two employees of Saradha Group on Thursday. The EOW took Basudev Samal and BN Das into custody on charge of helping Saradha Group chief to cheat gullible investors in Balasore district. While Samal was working as the branch manager of Saradha group's...
10:28 PM, May 16, 2013
Kolkata: Observing that "time has not come" for a Central Bureau of Investigation (CBI) probe into the Saradha chit fund scam, the Calcutta High Court on Thursday refused to accept a plea in this regard but said it will consider it after fully hearing the matter. A bench of Justices AK Banerjee and MK Chowdhury, which on Thursday started hearing afresh a set of public interest litigations seeking a CBI...
07:55 PM, May 16, 2013
New Delhi: Acclaimed filmmaker Mira Nair's 'The Reluctant Fundamentalist' is hitting the Indian screens on Friday, May 17. The film is based on a novel of the same name by Mohsin Hamid, and stars Riz Ahmed and Kate Hudson in the pivotal roles. Shabana Azmi and Om Puri will also be seen in the film. The film is about the meteoric rise and fall of a Pakistani migrant in the...
04:20 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
New Delhi: Mira Nair, who is equally at home directing stories from the sub-continent and from Hollywood, has merged both the worlds in 'The Reluctant Fundamentalist', a coming-of-age story where she deals with questions of identity and belonging. The director, who has previously helmed films like 'Salaam Bombay', 'Mississippi Masaala', 'Monsoon Wedding' and 'Amelia', has adapted Pakistani author Mohsin Hamid's novel to show a young Pakistani's love and subsequent disillusionment...
03:46 PM, 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 injuries on both sides. More details are awaited. ...
03:35 PM, May 14, 2013
Critically acclaimed actor Rajesh Sharma, who has acted in films such as "Maachis", "Ishqiya", "No One Killed Jessica", "The Dirty Picture" and "Luv Shuv Tey Chicken Khurana", joined IBNLive readers for an interaction on his future projects and his experience of acting in the Bengali film "Kagojer Nouka (Paper Boat)" which is based on the chit fund bust in eastern India. Q. Will this movie have English subtitle..for those who...
03:25 PM, May 14, 2013
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
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
