Investigations are on into the chit fund scam in West Bengal. There were thousands of crores of losses for those who can least afford it. ...
10:56 AM, May 07, 2013
Kolkata: The amount of property amassed by Sudipta Sen, the chairman of the Saradha Group, which has been accused of duping thousands of investors, will be made public by the police. "We are planning to make public the amount of money that Sen and his associate Debjani Mukherjee has made from ponzi schemes. We are waiting for a court order to do it," DC (DD) Bidhanagar City Police, Arnab Ghosh...
02:44 AM, May 07, 2013
Bhubaneswar: The Economic Offences Wing (EOW) of the Crime Branch of Odisha Police on Monday registered second criminal case against Saradha Group chief Sudipto Sen on the charges of duping about 6,000 investors in Puri district, official sources said. The EOW personnel on Monday recorded statements of a number of investors from Puri town, Nimapara and Sakhigopal area before registering the case. Though a number of agents of Saradha Group...
10:58 PM, May 06, 2013
Kolkata: The wife of a chit fund company director on Monday filed an FIR seeking investigation into his death. According to the complainant, her husband was murdered by investors who mobbed him after he was unable to pay them back. Hello India chit fund director Jayanta Sarkar was found dead in Hooghly on Monday. Reports earlier alleged that he had committed suicide. Meanwhile, in another incident, the father of a...
07:51 PM, May 06, 2013
Kolkata: Two more people committed suicide in West Bengal on Monday over the chit fund scam case. In the first case, the father of a ponzi scheme agent committed suicide at Sodepur in North 24 Parganas. Sixty five-year-old Jagdish Roy was upset after his son who had a total liability of Rs 1 crore was heckled by investors at his house. His son Bidhan was an agent of Annexe group...
05:09 PM, May 06, 2013
Kolkata: Attacking West Bengal Chief Minister Mamata Banerjee, her predecessor and CPI-M leader Buddhadeb Bhattacharjee on Sunday termed as "lies" her statement that she knew nothing about the chit fund scam before the Bengali New Year day. "New she says I did not know anything before Polia Baishakh (April 15-Bengali New Year's Day). For some people, lying is a habit. She knew everything. Her government has admitted that in an...
05:34 AM, May 06, 2013
Kolkata: The manager of Saradha Group's Raniganj branch office was arrested on Sunday. Two of the company's offices in Birbhum in West Bengal were also sealed and computers, certificates and bonds worth Rs 23,000 were seized. This after an investor lodged a complaint against the company. The Economic Offence Wing of Crime Branch of Odisha Police on Saturday also sealed office of Saradha Group at Balasore. A team of the...
04:20 PM, May 05, 2013
Kolkata: The West Bengal government has sealed the offices of MPS group, a business house that has an estimated liability of Rs 17,000 crore and is under the scanner of the Securities and Exchange Board of India (SEBI). The crackdown comes after the collapse of Saradha group's chit fund business in April, which affected thousands of depositors. Panicking depositors and agents protested outside the MPS group's office at Lake Town...
09:58 AM, May 05, 2013
Kolkata: Continuing her tirade against the CPI(M) and the Congress over the Saradha chit fund scam, West Bengal Chief Minister Mamata Banerjee on Friday said that the two parties had a lot to answer for and asked partymen to counter the allegations vigorously. "They (CPI-M) are merrily calling everyone chit fund thief. They themselves have to do some very serious answering about their dubious role during their regime," Banerjee was...
03:29 AM, May 04, 2013
Balasore: The Economic Offence Wing (EOW) of Crime Branch of Odisha Police on Friday broke open the office of the Saradha Group in Balasore and seized certain documents relating to alleged duping of gullible investors in the district. The officials of the EOW with the help of the local police and in presence of a magistrate broke open the doors of Saradha Group's main office at Fakir Mohan Gole, the...
03:02 AM, May 04, 2013
Kolkata: Attacking the opposition over its demand for a CBI probe in the chit fund muddle, West Bengal Chief Minister Mamata Banerjee on Thursday accused the central government of inaction against the burgeoning 'ponzi' firms. "Those who are clamouring for CBI inquiry, I want to ask them why the central organisations like the SEBI and the RBI never took steps against the chit funds. These organisations are the one who...
06:09 AM, May 03, 2013
Kolkata: The toll in the chit fund bust rose to five in West Bengal on Thursday with an agent of a chit fund company allegedly committing suicide by consuming poison at her home in Murshidabad district's Salar. Family members of 28-year-old Pratima Das said she took the extreme step unable to return the money she had collected for the scheme from the depositors. Das was crestfallen after she returned from...
11:20 PM, May 02, 2013
Kolkata: Under attack over the Saradha scam, Trinamool Congress supremo and Chief Minister Mamata Banerjee on Thursday said she will not spare anyone including those in her party if found guilty. "For the past few days concocted and salacious canards are being spread against me and my party MPs, MLAs, councillors and even some family members," Banerjee told a party rally at Shyambazar in North Kolkata. "Don't link the names...
10:30 AM, May 02, 2013
Kolkata: In a bid to prevent the Opposition from cashing in on the Saradha chitfund scam, West Bengal Chief Minister Mamata Banerjee will hit the streets on Thursday to shift the blame to her predecessors and project the action taken by her government against the 'legacy' of '70s and '80s. "The chit funds are a legacy of Bengal from the 70's and 80's. For all these years, CPI(M) and Congress...
10:12 AM, May 02, 2013
Catch the day's top stories with Rajdeep Sardesai on India @ 9. ...
11:29 PM, May 01, 2013
New Delhi: IMF has projected 5.8 per cent economic growth for India in this fiscal 2013-14 and said pace of investment in infrastructure should increase to get back to 8 per cent expansion level. "We are forecasting India to grow at about 5.8 per cent this fiscal (2013-14) and 6.3 per cent in 2014-15. This compares to an average growth rate of 8.7 per cent for the five years prior...
08:55 PM, May 01, 2013
Kolkata: West Bengal Chief Minister Mamata Banerjee on Wednesday held a meeting with her colleagues and senior officials on the issue of Saradha group fiasco. The meeting came a day ahead of the state government's scheduled filing of an affidavit before the Calcutta High Court on steps taken against the Saradha Group. The meeting, which continued for over an hour at the state secretariat, was attended by Finance Minister Amit...
08:32 PM, May 01, 2013
Kolkata: The probe in the West Bengal chit fund case has widened its ambit to the previous Left government. On Wednesday, the police questioned the top aides of two former Left ministers. Sources said that the police questioned Anjan Bhattacharya, the assistant of former Housing Minister Gautam Deb and Ganesh Dey, the CA of former Finance Minister Asim Dasgupta. Sources said that the police were looking if illegal pay-offs were...
07:54 PM, May 01, 2013
Kolkata: Seeking to prevent the opposition from cashing in on the Saradha chitfund scam, West Bengal Chief Minister Mamata Banerjee will hit the streets on Thursday to shift the blame to her predecessors and project the action taken by her government against the 'legacy' of '70s and '80s. "The chitfunds are a legacy of Bengal from the 70's and 80's. For all these years, CPI(M) and Congress turned the other...
06:58 PM, May 01, 2013
Bhubaneswar: A scam as big as the chit fund fraud in West Bengal has been exposed, but this time it is in Odisha. A CNN-IBN exclusive shows how fraudulent investment companies are duping investors in the state. Investors have been swindled off nearly Rs 20,000 crore by 40 finance companies in Odisha. Seashore Group, one of the companies being probed by Odisha police, has duped over 80,000 investors and collected...
06:38 PM, May 01, 2013
