-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...

-The Times of India NAGPUR: President Pranab Mukherjee on Monday slammed multinational companies saying they only looked for oversees locations with an intention to dodge taxes, raising eyebrows at a time when the country is desperately wooing foreign capital to plug a widening current account deficit. Addressing a function at the National Academy of Direct Taxes (NADT), Mukherjee said more than three-fourths of business transactions nowadays took place through the units of...

-The Indian Express In the wake of the collapse of the Saradha chit fund company, the Information & Broadcasting Ministry has asked all television channels - general entertainment as well as news and current affairs - to furnish details of their shareholding pattern and equity structure. This includes the Saradha Group. According to sources, the ministry's letter, sent on Friday, asks channels to inform whether there had been any changes in their...

-The Indian Express West Bengal is not new to chit fund scams. What is unique to the Saradha Group scandal is how it targeted the poorest and the most marginalised, leaving them on the verge of devastation. From 17-year-old agents who raised money from depositors to 50-year-old widows who invested money, the Saradha Group didn't discriminate in roping them in. Since the house of cards started collapsing, two agents and two...

-The Times of India The enforcement directorate's probe into alleged money laundering by the scam-scarred Saradha group may cover important politicians and their kin, besides media professionals, exposing them to the risk of confiscation of their bank accounts and properties. Sources in the ED, which has already registered a case in Guwahati, said the agency will issue summons to all those who helped siphon off money that Saradha had mopped up from...