Chit fund scam: Sudipta Sen’s cars, buildings seized

In the wake of the protests by duped investors of the Saradha Group, the West Bengal government froze 35 bank accounts of the company.

Zee Media Bureau

Kolkata: In the wake of the protests by duped investors of the Saradha Group, the West Bengal government on Wednesday froze 35 bank accounts of the company. Cracking down on the Saradha Group in the chit fund scam, the West Bengal government has also seized 36 cars belonging to Saradha Group chairman and managing director Sudipta Sen and his company. Also, four office buildings in and around Kolkata belonging to the Saradha Group have also been confiscated. The West Bengal government-appointed judicial commission will start receiving complaints of investors from Monday. In the meantime, a Jammu and Kashmir court today gave the West Bengal police a four-day transit remand of Sen and two other accused in the multi-crore-rupee chit fund scam. The three accused were detained on Tuesday by the Kashmir police in Sonamarg tourist resort in Ganderbal district after receiving information from Bengal investigators. The Securities and Exchange Board of India has directed Saradha Realty India Ltd and Sudipta Sen to wind up its existing collective investment schemes and refund the money collected with returns which are due to the investors within three months as it had contravened SEBI provisions by launching such schemes without its permission.