Chit fund scam: Sell my property to pay depositors, says Sudipta Sen
Kolkata: Chit fund company Saradha Group chairman Sudipta Sen on Friday appealed to the Justice Shyamal Kumar Sen Commission to arrange for the sale of his property and make payment to all depositors from the sale proceed.
Sen, whose company went bust after failing to repay investors mostly in the districts, claimed his assets were adequate enough to meet the purpose.
Briefing reporters on the deposition by Sen before the Commission, Justice Sen said that the founder-promoter of the company claimed that the total number of assets covering real estates and vehicles he possessed were sufficient enough to make payment to all depositors.
Sen also told the Commission that out of 160 companies altogether, only 12 companies were involved in any major activity and four of them were mainly involved with monetary transactions, Justice Sen said.
Giving a list of his officials who looked after the financial and real estate matters of the company, Sen said that he did not remember details about the finance and real estate matters, but interrogation of the officials, including Tarun Roy and Ashok Biswas, would reveal the details.
The four major companies involved in the financial transactions of the company were Saradha Construction Company Ltd, Saradha Realty India Ltd, Saradha Garden and Resorts India Ltd and Saradha Tours and Travels Company Ltd.
Apart from this, an investment of about Rs 25 crore had been made for setting up two schools in Siliguri area. Both the schools are still running well by a committee formed by their management after the fall of his company, he deposed.
Justice Sen said that in his deposition, the Saradha Group chairman said he had already filed an affidavit before the division bench of Calcutta High Court with his appeal to sell his property and make payment to all depositors.
More from India
More from World
More from Sports
More from Entertaiment
- DNA: US army's joint exercise with Indian Army and their consolation on Uri attack
- Panel discussion over PM Modi's willingness to engage in direct dialogue with Pak
- PM Modi slams Pakistan govt during his speech in Kozhikode
- DNA: Analysis of Indus water treaty between India and Pakistan
- Panel discussion over PM Modi's willingness to engage in direct dialogue with Pak - Part II
- SHOCKING VIDEO: This man was trying to take selfie with python - You won't believe what happened next!
- Donald Trump praises Hindu community's contributions to US
- Uri effect? India, Afghanistan bypass Pak to set up exclusive air corridor
- Reliance Jio impact: Vodafone offers 10 GB data at 1 GB rate
- Govt calls meet on Indus Water Treaty; Water Resources Ministry, MEA to brief PM Modi