-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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Blame game and a cover-up-Saadia
-The Hoot A huge media conglomerate was built up by a Chit fund company which has now collapsed. Can the West Bengal government whose MP was part of the empire disclaim responsibility, asks SAADIA. About 1400 journalists have lost their jobs because a Chit fund company's little-known Chief Managing Director ventured to become a media mogul in West Bengal some three years back. Almost every three months, the Saradha Group that had...
More »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...
More »Anti-tobacco group slam Mamata for 'smoke joke'
-IANS An anti-tobacco group on Thursday expressed shock over West Bengal chief minister Mamata Banerjee's joke asking people to smoke more, so more revenue could be garnered to compensate investors of the collapsed Saradha financial scam. "This is a great discouragement for those working in the area of public health," said Bhavna Mukhopadhyay, executive director, Voluntary Health Association of India. Mukhopadhyay said the West Bengal chief minister announced a 10% tax hike...
More »Trinamool MPs assured business protection: Saradha CMD Sudipta Sen- Priyadarshi Siddhanta
-The Indian Express New Delhi/ Kolkata: Chit fund 'kingpin' names politicians from Bengal, Assam in letter to CBI. Sudipta Sen, promoter of Saradha Group, has claimed that Trinamool Congress's Rajya Sabha members Kunal Ghosh and Srinjay Bose assured him that his business interests will be protected "as they have a very close connection" with Chief Minister Mamata Banerjee. In an 18-page letter to the CBI, Sen has alleged that a number of politicians...
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