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Saradha crisis: Mamata hikes VAT on tobacco for relief fund- Romita Datta

-PTI Mamata Banerjee stages reversal of former apathy towards fate of those affected by Saradha Group demise Kolkata: West Bengal chief minister Mamata Banerjee staged a reversal of her former apathy towards the fate of those whose savings had disappeared amid the collapse of the deposit-taking Saradha Group. Having said on Monday that "what has gone, has gone", Banerjee on Wednesday announced a 10 percentage point hike in value-added tax (VAT) on tobacco...

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Chidambaram's wife was a lawyer for a deal with Saradha Group: sources -Pallavi Ghosh

-CNN-IBN Finance Minister P Chidambaram's wife Nalini Chidambaram was engaged as a senior advocate to appear on behalf of Manoranjana Sinh and her husband and a Narasimha Rao government minister Matang Sinh in a company petition filed by her before the company law board against M/4 Positive TV Ltd, sources close to the Union Minister's wife have said. The case is still pending before the Company Law Board. Sources say Nalini represented...

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Chit fund: TMC questions role of Chidambaram's wife in Saradha Group

-PTI On the back foot over the chit fund scam in West Bengal, Trinamool Congress on Thursday raised questions over the role of a senior Chennai-based lawyer who happens to be wife of the Union finance minister. Sudipta Sen, chairman of the scandal-ridden Saradha Group, who was arrested two days ago, has said in a purported letter to CBI that politicians, journalists and lawyers had blackmailed him and taken money assuring him...

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Rs 4,000 cr at stake, SEBI asks Bengal to probe five more chit fund companies -Madhuparna Das

-The Indian Express Kolkata: As the investigation into the Saradha chit fund scam threatens to reach the doorstep of the Trinamool Congress, the markets watchdog is learnt to have warned of a larger, more frightening scenario: similar Ponzi schemes run by at least five other companies in West Bengal, involving over Rs 4,000 crore of small investors' money. In its latest communication sent to the state government, the Securities and Exchange Board...

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Corporate affairs ministry may order probe into functioning of Saradha Group companies

-PTI The corporate affairs ministry is likely to order a probe into functioning of Saradha Group companies amid growing controversy over the Kolkata-based entity allegedly duping thousands of investors. Corporate affairs minister Sachin Pilot along with senior ministry officials would hold a meeting on Thursday to look into the functioning of various chit funds including issues related to Saradha Group companies. A senior official said the ministry is likely to order a probe...

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