-IANS KOLKATA: West Bengal chief minister Mamata Banerjee on Thursday came in for sharp criticism from within her party and the opposition after she suggested people to "smoke more" to provide compensation to victims of a chit fund scam. "Smoking is bad.. let there be tax on it. But am I responsible for what Sudipta Sen did? Why should I pay more tax on every cigarette I smoke? I haven't fleeced the...

-The Indian Express Kolkata: As the investigation into the Saradha chit fund scam threatens to reach the doorstep of the Trinamool Congress, the markets watchdog is learnt to have warned of a larger, more frightening scenario: similar Ponzi schemes run by at least five other companies in West Bengal, involving over Rs 4,000 crore of small investors' money. In its latest communication sent to the state government, the Securities and Exchange Board...

-PTI The corporate affairs ministry is likely to order a probe into functioning of Saradha group companies amid growing controversy over the Kolkata-based entity allegedly duping thousands of investors. Corporate affairs minister Sachin Pilot along with senior ministry officials would hold a meeting on Thursday to look into the functioning of various chit funds including issues related to Saradha group companies. A senior official said the ministry is likely to order a probe...

-IANS   An anti-tobacco group on Thursday expressed shock over West Bengal chief minister Mamata Banerjee's joke asking people to smoke more, so more revenue could be garnered to compensate investors of the collapsed Saradha financial scam. "This is a great discouragement for those working in the area of public health," said Bhavna Mukhopadhyay, executive director, Voluntary Health Association of India. Mukhopadhyay said the West Bengal chief minister announced a 10% tax hike...

-PTI In further trouble for the Ponzi scheme scam-hit Saradha group of Kolkata, the Enforcement Directorate (ED) has registered a money laundering case to probe the allegations of financial irregularities by numerous depositors against it. The ED has registered a regular case under the provisions of the Prevention of Money Laundering Act (PMLA) at its Guwahati office as the Assam police has registered an FIR against the group after allegations were made...