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LATEST NEWS UPDATES | Depositors from outside add to complaint pile

Depositors from outside add to complaint pile

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published Published on May 25, 2013   modified Modified on May 25, 2013
-The Indian Express


Kolkata: AMONG the 6.25 lakh complaints received by Justice Sen Commission, which has been set up by the West Bengal government to inquire into the Saradha Group and other chit fund scams and also to look into ways to return money to investors, many have been submitted by people from other states where the firms were operating.

"Since the West Bengal government is the only state government that has announced to repay the investors of the bust firms, investors from states like Jharkhand, Bihar, Uttar Pradesh, Assam and Tripura are all coming to Kolkata and submitting their complaints," said an official of the commission.

Everyday the commission receives several phone calls from investors from other states who want to submit their complaints. However, while announcing the setting up of the commission, the Bengal government in its notification had mentioned that the panel will receive complaints from the investors of the state. As a result, the commission's officials are not sure what to do with the complaints of people they are receiving from other states. The commission will take a decision on it soon.

The five-member commission, which started functioning on April 26, will submit its report in six months. Lakhs of small investors had lost their savings after Saradha Group collapsed. The state government, which has set up a Rs 500-crore relief fund, will pay money to those investors whose names will be recommended by the commission.

Tax officers, Bank staff among duped

THOUGH a majority of the investors who have filed their complaints with the Justice Sen panel are from rural areas, there is also a good number of government employees who had invested in chit fund firms. "The complaints are not limited to rural investors. The tainted company managed to lure people from urban society, too. Among them are senior officials of nationalised banks, state and central government officers.

"A senior audit officer of central excise department, too, has complained. It's amazing how could such senior government officials could be lured by such companies," said an official.


The Indian Express, 25 May, 2013, http://www.indianexpress.com/news/depositors-from-outside-add-to-complaint-pile/1120278/0


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