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Post-demonetisation, IT unearths one of the largest black money scam

Post-demonetisation, IT unearths one of the largest black money scam

The demonetisation move by the government appears to achieving its true purpose with the Income Tax department unearthing one of the largest black money scam post the note ban.

Trinamool misleading nation on CBI action in Rose Valley case: BJP

The BJP on Wednesday blamed West Bengal's ruling Trinamool Congress of misleading the nation when investigation agencies started taking action against its leaders, who were involved in the Rose Valley chit fund scam.

'TMC' workers set BJP office in West Bengal's Hooghly district on fire

'TMC' workers set BJP office in West Bengal's Hooghly district on fire

In a shocking incident, alleged Trinamool Congress (TMC) workers on Wednesday set BJP office in West Bengal's Hooghly district on fire.

Mamata asks people to keep away from chit funds, says 'govt won't be responsible for compensating'

Mamata asks people to keep away from chit funds, says 'govt won't be responsible for compensating'

West Bengal Chief Minister Mamata Banerjee on Tuesday urged people to refrain from parking their hard-earned money in chit funds and said the government had no responsibility to compensate them if they lost financially in their endeavour.

Chit fund scam accused MP to be released on two-hour parole

Rajya Sabha member Kunal Ghosh, in jail as an undertrial in the Saradha chit fund scam, will be out on parole for two hours on Thursday to meet his ailing mother.

Odisha chit fund scam: Minister on CBI scanner

An aide of Odisha's Food Supplies and Consumer Welfare Minister Sanjay Dasburma on Wednesday submitted documents relating to a vehicle owned by the minister to the CBI which is inquiring into the multi-crore-rupee chit fund scam in the state.

Mathura: Man commits suicide in front of chit fund company

Mathura: Man commits suicide in front of chit fund company

A man today allegedly committed suicide in front of a chit fund company, which did not give him the benefits of his investment nor returned his money, police said.

SFIO probe report on Saradha, others in 2-3 months: Pilot

A preliminary report on the investigations is likely to be submitted soon by SFIO, but the final report may take little longer, Corporate Affairs Minister Sachin Pilot said.

Rose Valley to challenge Sebi order in Calcutta High Court

Rose Valley Group Thursday said it will legally challenge against capital market regulator Sebi's order against its 'holiday membership' scheme.

RBI Governor briefs Parliament panel over chit-fund scam

RBI Governor D Subbarao today briefed a Parliamentary panel on regulatory issues concerning the recent chit-fund scam in West Bengal and discussed steps that could be taken to prevent recurrence of such frauds

Court allows ED probe into Saradha Group deals

The bench also directed the Central Bureau of Investigation (CBI) - a party to the petition - to submit an affidavit regarding its investigation into matter in other states.

Lack of banking facilities drove people towards ponzi schemes

An economist, Ajitava Rai Chaudhuri, says it is the easy availability of need-based loans and high returns on short-term investments that propel people to invest in ponzi schemes.

'Multi-state cooperatives are under ambit of anti-graft law'

Officials of multi-state cooperative societies like KRIBHCO and IFFCO are under the ambit of anti-corruption law and they can be probed on graft charges, the government said Thursday.

States should also improve oversight of chit funds: Mayaram

The Finance Ministry on Tuesday said it was looking at ways to regulate chit fund and other related companies but wanted the states also to strengthen their oversight in this regard.

New bill on protecting investor interest to have more teeth

Copies of the bill, to be moved by Finance Minister Amit Mitra Tuesday for consideration and passage, were circulated among members on the first day of a two-day special session of the Assembly Monday.

Money-pooling scam: SFIO to start probe with 57 companies

The SFIO probe ordered by the government into illegal money-pooling activities of various entities would initially focus on 57 companies, most of which are in West Bengal, Odisha, Bihar and Assam.

WB, N-E hot-bed of investment frauds; NRIs major target: Probe

The Enforcement Directorate and the Income Tax department have already begun their own respective investigations into the matter.

ED registers money laundering case against Saradha group

In further trouble for the chit fund 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.

Govt orders SFIO probe into chit fund companies

In the wake of an alleged fraud involving thousands of crores by Kolkata-based Saradha group, the Centre Thursday ordered a SFIO probe into suspected misuse of the public money by various chit fund companies.