-The Times of India KOLKATA: Bengal finance minister Amit Mitra is in the CPM's firing line for attending a three-day Banga Sammelan at Las Vegas last year in which Sudipta Sen's Saradha Group was the main sponsor. A few days ago, the CPM had asked the government to reveal who sponsored chief minister Mamata Banerjee's chartered flight from Delhi on April 10. Mitra rejected the insinuations and said the state exchequer...
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The Political Economy of Shadow Finance in West Bengal-Subhanil Chowdhury
-Economic and Political Weekly The Saradha group's collapse has possibly bankrupted lakhs of small investors robbing them of their life svaings, and has rendered thousands of its agents jobless. The scam highlights the failure of the government and its regulatory agencies to reign in the mushrooming chit fund companies in West Bengal. It also brings under the scanner the Trinamool Congress' proximity with the tainted group. In the wake of the...
More »CBI verdict wait for Kunal
-The Telegraph Calcutta: Trinamul MP Kunal Ghosh's future in the party is expected to be decided after Calcutta High Court rules on two petitions by Saradha depositors seeking a CBI probe into the sham deposit-mobilisation scandal, party sources told The Telegraph. "Our leaders have been worried since the court indicated on April 25 that it was contemplating a CBI probe," a party source said. "(If action is taken now), Kunal may try to...
More »Saradha Group donated heavily to Trinamool govt, bought Mamata's art -Madhuparna Das and Subrata Nagchoudhury
-The Indian Express Kolkata: When the Saradha Group's Bengali daily Sakalbela began publication, Mamata Banerjee sent her best wishes. It was more than a customary greeting. It was an impassioned message that seemed to have come from the chief minister's heart. "We will have to pass the dark night to begin our journey in the light of dawn," she said. "An alert conscience, right direction, truth and fearless news is what people...
More »Bengal in damage control, Saradha Group bust brings memories of '80s
-PTI KOLKATA: The West Bengal government has stepped in for damage control after chit fund company Saradha Group went bust reviving memories of the collapse of Sanchayita Investments in the early eighties when several investors and agents committed suicide. Sanchayita collected more than Rs 120 crore in 1980 before its offices were raided and it folded up with only a handful of people getting back a minuscule amount of money. Two main...
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