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SEBI orders Saradha Realty to close schemes, refund money

Market regulator SEBI Tuesday ordered Kolkata-based Saradha Realty India to close all its collective schemes and refund the money collected from investors within three months, amid continuing protests against the alleged fraudulent activities of the group.

Chit-fund scam: Saradha chairman Sudipto Sen detained in J&K

Sudipto Sen, the chairman of Saradha group, has been detained from Sonmarg in Jammu and Kashmir along with two other company officials on Tuesday.