-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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Saradha group boss held in Kashmir, BJP wants CBI to probe chit funds
-PTI Srinagar: The Jammu & Kashmir Police on Tuesday detained Saradha group chairman & managing director Sudipto Sen and a director of the company from Sonamarg, where they had fled after their Calcutta-based chit fund business collapsed last week leaving thousands of depositors and agents stranded. "We have detained Sudipto Sen and Debjani Mukherjee, chairman-cum-managing director and a director of the Saradha group respectively, and Arvind from Sonamarg," the inspector general of...
More »Jairam dancing to the tune of corporate lobby: Brinda Karat
-The Hindu Left parties to press for referring land acquisition bill to panel VISAKHAPATNAM: Continuing her tirade against attempts by the UPA Government to adopt the Land Acquisition, Rehabilitation and Resettlement Bill, 2011, in Parliament without addressing the concerns expressed by many, CPI (M) Polit Bureau member Brinda Karat on Sunday accused Union Minister for Rural Development Jairam Ramesh of dancing to the tune of the corporate lobby. At a seminar on ‘Tribal...
More »Deposit schemes: Blame game starts as Bengal grapples with fallout
-The Hindu Business Line Kolkata: Everyone knew that the bomb was ticking. But, there was not much action to curb the mushrooming ponzi schemes that were collecting thousands of crores from hapless investors across West Bengal since 2007-08. Some promised to grow money by 34 times in 25 years by investing in teak bonds. Others offered to double money in 15 months by investing in the potato trade. As a result, investments...
More »Police report junks Trinamool claims on violence -Madhuparna Das
-The Indian Express A report prepared by West Bengal Police on political violence in the aftermath of the April 9 heckling of Chief Minister Mamata Banerjee by SFI supporters in Delhi said as many as 149 CPM party offices were ransacked and damaged by "Trinamool Congress supporters and followers". The report was submitted to the Home Department, which is headed by Banerjee, last week. The report refutes claims made by Trinamool Congress ministers...
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