Panel probing Odisha chit-fund scam extends deadline
11 years, 6 months ago

Panel probing Odisha chit-fund scam extends deadline

India TV News  

Bhubaneswar: A one-man commission probing the multi-crore-rupee Odisha chit-fund scam has extended the deadline for submission of complaints to Sep 18, the commission secretary said Monday. It has so far received 76,212 complaints.The panel led by retired Sikkim High Court chief justice R.K. Patra had earlier fixed Aug 31 as the deadline. Since more and more people are coming with complaints, the commission wanted the government to extend the deadline to provide opportunity to those who have so far remained left out, commission secretary Devraj Rout told IANS. A notification in this regard was issued Sunday," he said.The commission tenure will end Sep 8 and it is likely to seek more time from the government to complete the probe, the official said.Although people were earlier told to file affidavits using stamp paper, later they were allowed to lodge their complaints on plain paper affixing the three-rupee court fee.The alleged scam came to light after many investors last year complained that several firms collected huge amounts of money from them promising high returns, but later refused to pay back as promised.The economic offence wing of the Odisha Police Crime Branch has been investigating the allegations.Although police raided offices of several such companies and arrested a score of people for irregularities, the government appointed the commission after coming under attack from opposition parties.The companies accused of duping people include the Kolkata-based Saradha Group, and Odisha-based Seashore and Artha Tatwa groups.

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History of this topic

Rose Valley chit fund scam: ED secures Rs 450 crore to return to duped investors
2 weeks, 1 day ago

Rose Valley chit fund scam: ED secures Rs 450 crore to return to duped investors

India Today  

In a major relief to lakhs of investors who had lost hope of recovering their money, the Enforcement Directorate has secured the release of Rs 450 crore, including interest, for restitution to victims of the multi-state Rose Valley chit fund scam, officials said on Thursday. The Prevention of Money Laundering Act Special Court in Odisha's Khurda ordered the release of …

Four arrested in ₹70 crore chit fund fraud targeting 1,300 victims
3 weeks, 4 days ago

Four arrested in ₹70 crore chit fund fraud targeting 1,300 victims

The Hindu  

Four individuals who duped at least 1,300 citizens in Hyderabad of ₹70 crore in a chit fund fraud were arrested by the Crime Investigation Department of Telangana on Tuesday. The accused, identified as Chavva Kumar, 50, Chavva Yadagiri, 62, Chavva Chinna Esthari, 60 and Chavva Venkatesh, 58, were taken into custody on Monday following a complaint by Pasham Venugopal Reddy, …

Komatireddy Urges DGP to Ensure Speedy Justice for Victims of Akshara Chit Fund Scam
2 months ago

Komatireddy Urges DGP to Ensure Speedy Justice for Victims of Akshara Chit Fund Scam

Deccan Chronicle  

HYDERABAD: Roads and buildings minister Komatireddy Venkat Reddy, likening the Akshara chit fund scam in Telangana to the Agri gold scam, on Wednesday directed the DGP Dr Jitender to take swift action against the accused and bring them to book. During a ‘face-to-face with the minister’ programme in Gandhi Bhavan, he was flooded with umpteen complaints by victims of the …

All Eyes On PM Modi Odisha Visit On Feb 23, Party Leaders Await Marching Order
1 year, 1 month ago

All Eyes On PM Modi Odisha Visit On Feb 23, Party Leaders Await Marching Order

Deccan Chronicle  

Bhubaneswar: The Bharatiya Janata Party leaders in Odisha are anxiously looking forward to Prime Minister Narendra Modi’s forthcoming visit to the state on February 3 when he will address a public meeting at Sambalpur. All these years, the BJP central leaders have seemingly adopted a soft stand towards the BJD, its key rival in the state, as the regional party …

Vijayawada court summons seven accused in Margadarsi chit fund scam
1 year, 7 months ago

Vijayawada court summons seven accused in Margadarsi chit fund scam

Deccan Chronicle  

Vijayawada: The first additional district sessions court in Guntur summoned seven suspects in the Margadarsi chit fund fraud to appear for a hearing in a criminal defamation complaint filed by the APCID for defaming it by publishing a disparaging and venomous article in Eenadu on April 13, 2023. On Thursday, additional advocate general Ponnavolu Sudhakar Reddy told media that the …

Illegal chit fund firms on the rise in Andhra Pradesh
1 year, 10 months ago

Illegal chit fund firms on the rise in Andhra Pradesh

Deccan Chronicle  

KAKINADA: The number of small and unregistered chit fund companies is growing rapidly, with a matching increase in their acts of financial frauds. The subscribers say the assistant registrars of chits and other employees of the department are aware of the fraudulent activities of unregistered chit funds, but no action is taken against them due to corrupt practices in the …

Appa Rao, son Srinivasa Rao held for Chit fund Rs.11 crore fraud
1 year, 10 months ago

Appa Rao, son Srinivasa Rao held for Chit fund Rs.11 crore fraud

Deccan Chronicle  

KAKINADA: The CID on Sunday arrested senior Telugu Desam leader and former MLC Adireddy Apparao his son Srinivasa Rao the husband of Rajamahendravaram Urban MLA Adireddy Bhavani. As per a charge-sheet, “At the time of commencement of new chit croups, the company submitted agreements it entered with new chit subscribers to the assistant registrar of chits and it would submit …

Irregularities found in 35 chit fund companies
2 years, 3 months ago

Irregularities found in 35 chit fund companies

Deccan Chronicle  

Vijayawada: Commissioner of state Registration & Stamps department, V. Ramakrishna, said on Friday that irregularities were detected in 35 chit fund companies in Andhra Pradesh and legal action would follow. There exist 587 branches of about 423 chit fund companies, through which 6,868 chit groups are working and their annual turnover was Rs 638.99 crore, he said. The workshop aimed …

SC notice to IPS officer Rajeev Kumar on CBI's appeal challenging his anticipatory bail
5 years, 4 months ago

SC notice to IPS officer Rajeev Kumar on CBI's appeal challenging his anticipatory bail

India TV News  

The Supreme Court on Friday sought a response from West Bengal cadre IPS officer Rajeev Kumar on CBI's appeal challenging the anticipatory bail granted to him in the multi-crore Saradha chit fund scam case. The CBI had approached the apex court challenging the anticipatory bail granted to Kumar in connection with the multi-crore-rupee Saradha chit fund scam. Kumar was part …

Saradha chit fund scam: Calcutta High Court grants anticipatory bail to ex-Kolkata police commissioner Rajeev Kumar
5 years, 5 months ago

Saradha chit fund scam: Calcutta High Court grants anticipatory bail to ex-Kolkata police commissioner Rajeev Kumar

Firstpost  

Observing that Rajeev Kumar had cooperated with the central probe agency, which is investigating the case, the bench said it was not an appropriate case for custodial interrogation of the petitioner. Kolkata: In a relief to former Kolkata police commissioner Rajeev Kumar, the Calcutta High Court granted anticipatory bail to the senior IPS officer in connection with the multi-crore-rupee Saradha …

CBI raids in Delhi, Bengal, Bihar in chit fund scam
5 years, 8 months ago

CBI raids in Delhi, Bengal, Bihar in chit fund scam

India TV News  

The Central Bureau of Investigation on Monday carried out searches at over 11 places in West Bengal, Bihar, Tripura and New Delhi in its probe into a chit fund scam to the tune of Rs 87 crore. A senior CBI official here said that the agency raided different locations in West Bengal's North 24 Parganas, Patna, New Delhi and Agartala, …

Saradha chit fund scam: HC to hear ex-Kolkata Police commissioner Rajeev Kumar’s plea seeking protection from arrest on 17 July
5 years, 8 months ago

Saradha chit fund scam: HC to hear ex-Kolkata Police commissioner Rajeev Kumar’s plea seeking protection from arrest on 17 July

Firstpost  

Calcutta HC will hear ex-Kolkata police commissioner Rajeev Kumar’s plea seeking protection from arrest in connection with Saradha chit fund case on 17 July. Kolkata: The Calcutta High Court will hear former Kolkata Police commissioner Rajeev Kumar’s plea seeking protection from arrest in connection with the Saradha chit fund case on Wednesday. Kumar had moved the High Court seeking quashing …

Commission submits 7th interim report on Odisha chit fund scam
5 years, 8 months ago

Commission submits 7th interim report on Odisha chit fund scam

India TV News  

Commission submits 7th interim report on Odisha chit fund scam The government had formed the one-man commission on July 9, 2013 to probe the chit fund scam and identify the investors. Das commission of inquiry, which is probing the multi-crore chit fund scam in Odisha, submitted its seventh interim report to the state government on Friday. The commission has furnished …

Saradha Chit Fund case: SC says CBI has made ‘very very serious’ allegations against Kolkata police chief in its status report
6 years ago

Saradha Chit Fund case: SC says CBI has made ‘very very serious’ allegations against Kolkata police chief in its status report

Op India  

The Supreme Court on Tuesday said that the Central Bureau of Investigation has in its status report made ‘very very serious’ revelations on the interrogation of former Kolkata Commissioner Rajeev Kumar in the Saradha chit fund scam. The Supreme court was hearing the CBI’s contempt petition against various senior officials of the West Bengal government, including the State’s DGP and …

Travels through the Hindi belt: Chhattisgarh govt struggles to assuage investors, agents duped in chit funds during BJP's tenure
6 years, 1 month ago

Travels through the Hindi belt: Chhattisgarh govt struggles to assuage investors, agents duped in chit funds during BJP's tenure

Firstpost  

Over 400 cases of irregularities have been registered against chit fund companies in Chhattisgarh. It seemed like a safe bet.” As things stand today, over 400 cases of irregularities have been registered and the Congress government is figuring out a policy to return money to more than 2.70 lakh people who had invested over Rs 1,105 crore in close to …

Saradha chit fund scam: Justice L Nageswar Rao recuses himself from hearing CBI’s contempt case against Mamata govt
6 years, 1 month ago

Saradha chit fund scam: Justice L Nageswar Rao recuses himself from hearing CBI’s contempt case against Mamata govt

Op India  

Justice L Nageshwar Rao has recused himself from the hearing of the contempt plea filed by the Central Bureau of Investigation in the Supreme Court against the West Bengal authorities in the Saradha Chit Fund case. In separate affidavits filed on February 18 by the West Bengal Chief Secretary Malay Kumar De, DGP Virendra Kumar, and Kolkata Police Commissioner Rajeev …

Supreme Court refuses to set up monitoring committee for Saradha chit fund scam probe
6 years, 1 month ago

Supreme Court refuses to set up monitoring committee for Saradha chit fund scam probe

Firstpost  

The Supreme Court on Monday refused to monitor the ongoing CBI investigation into the Saradha chit fund scam in West Bengal New Delhi: The Supreme Court on Monday refused to monitor the ongoing CBI investigation into the Saradha chit fund scam in West Bengal. The top court had on 5 February directed Kolkata Police Commissioner Rajeev Kumar to appear before …

Assam govt closes inquiry against two senior IPS officers allegedly involved in Saradha chit fund scam
6 years, 1 month ago

Assam govt closes inquiry against two senior IPS officers allegedly involved in Saradha chit fund scam

Firstpost  

A lesser known episode involving India Police Service officers in the infamous Saradha scam comes from Assam where the case was recently shut by the government after a probe was ordered almost four years ago. The clause says that there shall be no obligation to share information if the disclosure would “endanger the life or physical safety” of any person …

Chit fund cases: Multiple notices to West Bengal cops since 2017 but very few appearances
6 years, 1 month ago

Chit fund cases: Multiple notices to West Bengal cops since 2017 but very few appearances

Hindustan Times  

The Central Bureau of Investigation and the West Bengal police communicated more than 20 times with regard to questioning of around two dozen state police officials in connection with the agency’s probe into the 2013 chit fund scams, according to documents seen by HT. The questioning of police officials, including Kolkata police commissioner Rajiv Kumar, was required as they investigated …

Saradha Chit Fund Case: All you need to know why Mamata Banerjee is trying to scuttle the CBI probe
6 years, 1 month ago

Saradha Chit Fund Case: All you need to know why Mamata Banerjee is trying to scuttle the CBI probe

Op India  

Kolkata witnessed an unprecedented series of events last night when a team of CBI officials were detained by the state police after they paid the police commissioner a visit to obtain crucial information regarding the Saradha scam. Senior leaders of the Trinamool Congress have been alleged to be intimately involved in the scam ever since the CBI initiated its investigation. …

Saradha Chit Fund Case: SC Extends Interim Order Restraining ED From Summoning Nalini Chidambaram
6 years, 6 months ago

Saradha Chit Fund Case: SC Extends Interim Order Restraining ED From Summoning Nalini Chidambaram

Live Law  

In a reprieve to Nalini Chidambaram, senior advocate and wife of former finance minister P. Chidambaram, the Supreme Court on Friday extended its interim order restraining the Enforcement Directorate from summoning her in connection with the multi-crore Saradha Chit Fund scam.A bench of Justices U.U. In a reprieve to Nalini Chidambaram, senior advocate and wife of former finance minister P. …

CBI arrests BJD MLA Prabhat Biswal in Rs 550 crore Odisha seashore chit fund scam
7 years, 6 months ago

CBI arrests BJD MLA Prabhat Biswal in Rs 550 crore Odisha seashore chit fund scam

Firstpost  

Ruling Biju Janata Dal MLA Prabhat Biswal was on Tuesday arrested by the Central Bureau of Investigation in the Seashore chit fund scam in Odisha Bhubaneswar: Ruling Biju Janata Dal MLA Prabhat Biswal was on Tuesday arrested by the Central Bureau of Investigation in the Seashore chit fund scam in Odisha. The Cuttack-Chowdwar BJD MLA was quizzed four times earlier …

Now, a hawala scam haunts Mr Clean Naveen Patnaik
7 years, 8 months ago

Now, a hawala scam haunts Mr Clean Naveen Patnaik

Op India  

Odisha Chief Minister Naveen Patnaik has been enjoying a clean image in the national media till now, but stains have already surfaced on the white dress of Patnaik. The Election Commission must act on this.” BJD’s dubious political funding was exposed days after the Orissa High Court issued notice to the Election Commission of India on a complaint demanding disqualification …

Odisha: BJP, Congress link BJD leaders to Rose Valley chit fund scam
8 years, 2 months ago

Odisha: BJP, Congress link BJD leaders to Rose Valley chit fund scam

Firstpost  

With the CBI arresting two Trinamool Congress MPs for their alleged involvement in the Rose Valley chit fund case, opposition Congress and BJP in Odisha on Thursday demanded action against some BJD leaders for “being hand-in-glove” with the ponzi scheme company. Bhubaneswar: With the CBI arresting two Trinamool Congress MPs for their alleged involvement in the Rose Valley chit fund …

Maharashtra govt spends 3 crore on MG Gaikwad Committee probing tribal affairs dept scam
8 years, 5 months ago

Maharashtra govt spends 3 crore on MG Gaikwad Committee probing tribal affairs dept scam

Firstpost  

Maharashtra government has spent Rs 3 crore in the last two-and-half years on the administrative expenses of the Justice M G Gaikwad committee, probing an alleged scam in the Tribal Affairs Department during the previous Congress-NCP regime. Mumbai: Maharashtra government has spent Rs 3 crore in the last two-and-half years on the administrative expenses of the Justice M G Gaikwad …

ED files first chargesheet in Saradha chit fund scam case, names TMC MP Srinjoy Bose, Sudipta Sen
8 years, 11 months ago

ED files first chargesheet in Saradha chit fund scam case, names TMC MP Srinjoy Bose, Sudipta Sen

Firstpost  

Four days before West Bengal goes to polls, the Enforcement Directorate filed its first chargesheet in the multi-crore rupee Saradha chit fund scam case Kolkata: Four days before West Bengal goes to Assembly polls, the Enforcement Directorate filed its first chargesheet in the multi-crore rupee Saradha chit fund scam case, naming ex-Trinamool Congress MP Srinjoy Bose and chairman of the …

Maharashtra mulls action against bogus chit fund companies under MPID Act |IndiaTV News
9 years, 9 months ago

Maharashtra mulls action against bogus chit fund companies under MPID Act |IndiaTV News

India TV News  

Mumbai: Chit fund companies operating in Maharashtra have come under the scanner of the state government, which is considering to take strict action against these dubious establishments to recover investors ' lost money. On action by the state government after the submission of the companies list, Ranjeet Patil, Minister of state for Home said, "the state government is considering to …

No contradiction between party, govt on Saradha scam money: BJP
10 years, 3 months ago

No contradiction between party, govt on Saradha scam money: BJP

Firstpost  

BJP rejected any “contradiction” between the party and the government on the issue of Saradha chit fund scam. New Delhi: Rejecting any “contradiction” between the party and the government on the issue of Saradha chit fund scam, BJP on Wednesday said the case is being investigated by three agencies and the government has not given clean chit in this regard. …

Chit fund panel submits report, to refund rs 138 cr to WB
10 years, 5 months ago

Chit fund panel submits report, to refund rs 138 cr to WB

India TV News  

Kolkata: The Justice Shyamal Kumar Sen Commission on chit funds today submitted its 404-page report to the state government. It is a 404-page report," Justice Sen said while walking out of his commission office declining to divulge anything on his report. Commission officials said a total of Rs 287 crore was received from the state government to repay the duped …

Saradha scam: CBI conducts raids in Odisha
10 years, 7 months ago

Saradha scam: CBI conducts raids in Odisha

India TV News  

New Delhi: The Central Bureau of Investigation on Wednesday conducted raids at three locations in Odisha in connection with West Bengal's Rs 10,000-crore Saradha chit fund scam, officials said. "We conducted raids at offices and residents of employees of Rely Foundation and recovered some important documents," a CBI official said.The agency has till now registered 48 cases, including four in …

64 witnesses examined by CBI in Saradha chit fund scam: Govt
10 years, 8 months ago

64 witnesses examined by CBI in Saradha chit fund scam: Govt

India TV News  

New Delhi: CBI has examined 64 witnesses in connection with its probe in the Saradha chit fund scam in which a Trinamool Congress MP is also an accused, Lok Sabha was informed today. In a written reply, Minister of State for Personnel Jitendra Singh said three cases in West Bengal and one case in Odisha have been registered by CBI.“Till …

Chit fund scam: CBI team meets senior WB, Odisha officials
10 years, 10 months ago

Chit fund scam: CBI team meets senior WB, Odisha officials

India TV News  

New Delhi: CBI's Special Investigating Team has met senior officials of West Bengal and Odisha and sought their cooperation in collecting voluminous documents related to the multi-crore Saradha chit fund scam. The move comes after CBI Director Ranjit Sinha wrote letters to Chief Secretaries of West Bengal and Odhisa asking them to provide logistic support to the team constituted to …

Chit fund scam: CBI team meets senior WB, Odisha officials
10 years, 10 months ago

Chit fund scam: CBI team meets senior WB, Odisha officials

India TV News  

The seven-member SIT was constituted to probe over Rs 10,000-crore Saradha chit fund case and collect documents from Odhisa, West Bengal, Bihar and Northeastern states. The SIT, to be headed by Joint Director Rajeev Singh, will also probe the role of market regulators like Securities Exchange Board of India and RBI. CBI will also look into the role of SEBI, …

CBI probe into the Saradha Chit Fund Scam; Supreme Court [Read the Judgment]
10 years, 10 months ago

CBI probe into the Saradha Chit Fund Scam; Supreme Court [Read the Judgment]

Live Law  

Supreme Court today directed Central Bureau of Investigation to probe into West Bengal Saradha Chit Fund Scam.Court was hearing two PILs seeking CBI enquiry into the scam. A Bench comprising of Justice TS Thakur and Justice C. Nagappan directed the West Bengal Government to hand over all Saradha Chit Fund Scam cases to CBI. Supreme Court today directed Central Bureau …

SC directs CBI to probe chit fund scams
10 years, 10 months ago

SC directs CBI to probe chit fund scams

The Hindu  

The Supreme Court on Friday directed a CBI probe in multi—crore chit fund scams in West Bengal, Odisha and Assam in which various companies, including Saradha, are allegedly involved. A bench headed by Justice T S Thakur said that the scams have inter—State ramification and directed that the investigation be handed over to the Central agency from the State authorities. …

Saradha ponzi scam: ED seizes Rs 140 cr property; issues notices
10 years, 11 months ago

Saradha ponzi scam: ED seizes Rs 140 cr property; issues notices

India TV News  

New Delhi/Kolkata: Widening its probe into the multi-crore Saradha chitfund scam, the Enforcement Directorate has issued summons to numerous entities even as it has attached assets worth Rs 140 crore of individuals and firms on money laundering charges. The central probe agency has also issued a notice asking general public “to furnish information and particulars of properties, both movable and …

Demand for CBI probe into West Bengal chit fund scam
11 years, 3 months ago

Demand for CBI probe into West Bengal chit fund scam

The Hindu  

A demand for a CBI inquiry into the chit fund scam in West Bengal and adjoining states was made in the Rajya Sabha on Wednesday amid protest by Trinamool Congress members that the matter, which is subjudice, cannot be taken up in the House. Raising the issue during Zero Hour, Prashant Chatterjee said chit fund companies in West Bengal have …

Chit fund: Congress seeks clarification from Naveen
11 years, 3 months ago

Chit fund: Congress seeks clarification from Naveen

The Hindu  

A day after hundreds of duped depositors from different parts of the State staged a massive demonstration demanding refund of their money, Opposition Congress on Wednesday sought a clarification from Chief Minister Naveen Patnaik on his government's plan to return money to the investors who had been cheated by chit fund companies. Mr. Singh sought a clarification from the Chief …

Chit funds regulation: SC notice to Centre, RBI
11 years, 4 months ago

Chit funds regulation: SC notice to Centre, RBI

The Hindu  

The Supreme Court on Tuesday issued a notice to the Centre, the Reserve Bank of India and Securities Exchange Board of India seeking their response on a PIL for putting in place a proper mechanism to regulate functioning of chit funds in the country. Advocate Prashant Bhushan, appearing for NGO ‘Humanity Salt Lake’, submitted that there has been inaction on …

West Bengal: Saradha scam worth Rs 2,460 cr, reveals probe
11 years, 5 months ago

West Bengal: Saradha scam worth Rs 2,460 cr, reveals probe

Firstpost  

The alleged chit fund scam in West Bengal involving the Saradha Group revolves around a total sum of Rs 2,460 crore with 80 per cent of the depositors’ money still remaining unpaid, a latest investigation report has revealed. New Delhi: The alleged chit fund scam in WestBengal involving the Saradha Group revolves around a total sumof Rs 2,460 crore with …

Odisha chit fund probe panel gets 8 lakh plaints
11 years, 5 months ago

Odisha chit fund probe panel gets 8 lakh plaints

India TV News  

Bhubaneswar: A one-man commission probing the multi-crore-rupee Odisha chit fund scam, which has already received about eight lakh complaints, has extended the deadline for receiving complaints to Oct 31, an official said Wednesday. This was for the third time the panel led by retired Sikkim High Court chief justice R.K. Patra, which launched investigation into the scam three months ago, …

Odisha chit fund panel extends deadline yet again
11 years, 6 months ago

Odisha chit fund panel extends deadline yet again

The Hindu  

For the second time on Monday, the Justice R K Patra Commission of Enquiry probing into the chit funds fraudulent activities in the State, extended its deadline for receiving the statements of affidavits from public. While the initial deadline for this was fixed on August 31, it was first extended to September 18 when a large number of people expressed …

Panel probing Odisha chit fund scam extends deadline
11 years, 6 months ago

Panel probing Odisha chit fund scam extends deadline

The Hindu  

The one-man commission probing the multi-crore rupee Odisha chit fund scam has extended the deadline for submission of complaints to September 18, the commission secretary said on Monday. The commission was appointed in May to probe the alleged fraud committed by chit fund companies and suggest ways to safeguard the interests of investors affected. Several complaints The panel led by …

Chit scam victims take to the streets
11 years, 7 months ago

Chit scam victims take to the streets

The Hindu  

Thousands of people, who have been allegedly cheated by various chit fund companies in the State, staged a protest here on Wednesday. Raising slogans against the numerous companies that have duped them, the victims demanded that the State government punish the companies involved in the scam and ensure refund of their amount. The demonstrators demanded that instead of harassing the …

WB chit fund scam: Sudipta Sen denies links with Mamata Banerjee
11 years, 10 months ago

WB chit fund scam: Sudipta Sen denies links with Mamata Banerjee

India TV News  

Kolkata, May 16: Saradha group chairman Sudipta Sen, who has been accused of cheating lakhs of investors of their money running into thousands of crores, on Wednesday opposed a Central Bureau of Investigation probe into the complaints against him and his companies in an affidavit filed before the Calcutta High Court. He claimed before a division bench comprising Chief Justice …

Chit fund probe panel receives 60,000 complaints
11 years, 10 months ago

Chit fund probe panel receives 60,000 complaints

The Hindu  

The inquiry commission set up by the West Bengal government, to probe the Saradha Group and other deposit-taking companies, has received about 60,000 complaints, an official of the panel told The Hindu on Saturday. Serpentine queues outside the office of the four-member commission, headed by Justice Shyamal Sen, have been seen ever since it began work, indicating the enormity of …

Chit fund scam: Toll mounts, opposition steps up heat for CBI probe
11 years, 10 months ago

Chit fund scam: Toll mounts, opposition steps up heat for CBI probe

India TV News  

Kolkata, May 8: The death count mounted in the Saradha chit fund scam which has rocked West Bengal with yet another agent ending his life, while the opposition stepped up pressure yesterday on the Mamata Banerjee government to order a CBI inquiry into what is being perceived as the biggest financial scandal to hit the state. He sold a part …

Chit fund director found murdered in WB
11 years, 10 months ago

Chit fund director found murdered in WB

The Hindu  

Apart from suicides which followed the chit fund scandal in West Bengal, a director of such a company was found murdered by suspected depositors at Chunchura in Hooghly district. One of the directors of Hello India chit fund company, Jayanta Sarkar was allegedly killed with a sharp weapon at his residence last night, the police said. The multi-crore chit fund …

Chit fund scam: Hearing on PILs seeking CBI probe adjourned
11 years, 10 months ago

Chit fund scam: Hearing on PILs seeking CBI probe adjourned

The Hindu  

The Calcutta High Court on Friday adjourned hearing of PILs seeking CBI investigation into the multi-crore chit fund scam till Wednesday. A division bench comprising Chief Justice Arun Mishra and Justice Joymalyo Bagchi adjourned the hearing till next Wednesday after considering that four petitions had been filed seeking a CBI probe and that the state government had as per its …

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