-The Telegraph Mumbai: The Securities and Exchange Board of India (Sebi) today asked Saradha Realty India to wind up its collective investment schemes and refund investors within three months. The company as well as its managing director Sudipto Sen have been prohibited from accessing the capital markets until all collective investment schemes are wound up and the refunds are complete. Legal proceedings and steps to wind up Saradha Realty would also be...

-The Telegraph Kolkata: Chief minister Mamata Banerjee today flagged a four-member panel headed by a retired judge, a task force and an ordinance in her first comprehensive comments on the Saradha Group collapse that has triggered fears of a default contagion in Bengal. It was not clear if it was a stray remark or addressed at those seeking immediate relief for depositors but the chief minister also said that "ja gechhey ta...

-Live Mint West Bengal chief minister dashes Saradha depositors' hopes of any immediate state-assisted recovery Kolkata: What has gone, has gone," West Bengal chief minister Mamata Banerjee told depositors of the Saradha Group, dashing their hopes of any immediate state-assisted recovery of dues from the floundering units of the group that collected the money. Banerjee launched two separate investigations and promised to introduce a new law to deal firmly with fraudulent financial...

-The Times of India DAKSHIN BARASAT (South 24-Parganas): Every other house in this part of Bengal has a rags-to-riches-to-rags story. Saradha Group showed them a dream that was unbelievable when it lasted. But then reality struck a hard, bitter blow. Sixty-year-old Dulal Chandra Gharami walked back home tense on Monday afternoon. He was summoned to the Trinamool Congress office at Beliadanga, where he was asked to cough up protection money. For last four...

-The Telegraph Guwahati: Gauhati High Court today said cases of fraud against dubious deposit collecting companies should be probed in a time-bound manner, while their victims' deposits should be refunded using the cash and properties of these firms seized by police. The court stated this during the first hearing of a suo motu PIL (15/2013) it had recently taken up against companies which collect huge deposits from the public by offering lucrative...