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Chit fund row: Mamata rejects oppn charge, sets up relief fund for Saradha investors

Last Updated: Thursday, April 25, 2013 - 00:07

Zee Media Bureau

Kolkata: Defending her government and deflecting blames over the multi-crore-rupee Saradha Group chit fund scam, West Bengal Chief Minister Mamata Banerjee on Wednesday said that the opposition is politicising the issue.

Setting aside Rs 500 crore for those hit by the scam, Mamata assured the duped investors of the Saradha Group that they will be compensated, saying that the compensation will be partly funded by extra 10 percent tax on cigarettes. “Money will be given to small, medium investors affected by the scam,” Mamata assured.

Questioning why didn’t the RBI and other central agencies act, Mamata said that action will be taken against the Trinamool Congress members if found guilty of any involvement in the chit fund scam. Defending the West Bengal Police, Mamata said that the police have already arrested two top officials of the company apart from Sudipto Sen.

She also said that she is ready to call special assembly session to enact law to regulate chit fund, and that there will be a law on chit fund soon.

Earlier today, 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.

First Published: Wednesday, April 24, 2013 - 19:18

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