-The Telegraph Offices of the Saradha Group and some other deposit-collection companies were attacked across Bengal on Saturday. Here is a glimpse of the unrest that has gripped the state. Trinamul headquarters in Topsia What happened They came in droves from the two 24-Parganas, Howrah and several other places and party general secretary Mukul Roy was forced to call some of them to a meeting. The agents outside said they were being hounded by depositors...
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Bengal’s Bonzi shell cracks up -Sambit Saha
-The Telegraph The "Bonzi" edifice, Bengal's version of the fraudulent Ponzi scheme that conned US investors a century ago, is shaking at its foundations. The panic set off by Saradha defaulting on payments has spread to similar schemes run by other firms and triggered protests and attacks on company offices in several parts of the state. These schemes' mostly small-time rural investors have begun to panic about the safety of their hard-earned...
More »Chits come home to roost
-The Telegraph Calcutta: From Mamata Banerjee's backyard in Harish Chatterjee Street to Contai in East Midnapore, a contagion of protests is spreading in several parts of Bengal. Funds collection agents of the Saradha Group are besieging the seats of power with appeals to step in and avert a run on the chit fund-fuelled company since the Trinamul government was seen as the undeclared gilt-edged guarantor during the good times. Trinamul lent credence to...
More »JPC draft report turns heat on NDA govt
-The Business Standard Says licence terms extended to 15 years on advice of erstwhile Industrial Credit and Investment Corporation of India, a lender to many telcos Giving a clean chit to Prime Minister Manmohan Singh on the 2G spectrum allocation case in 2008, the Joint Parliamentary Committee (JPC) that looked into telecom spectrum allocations has turned the heat on the numerous decisions taken in the sector between 1998 and 2004, during...
More »Wireless messages dent SIT claim on Modi-Vidya Subrahmaniam
-The Hindu Extracts show violence before and during funeral processions of kar sevaks In its closure report submitted to the trial court, the Special Investigation Team that probed Zakia Jafri's complaintagainst Narendra Modi and 58 others said there was no evidence to prove that the Chief Minister had sent the bodies of the 2002 Godhra victims to Ahmedabad with a view to parading them before the public. The SIT quoted Ahmedabad Police Commissioner...
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