Ask CBI to probe chit fund companies, Tripura to PM Modi

Tripura has urged Prime Minister Narendra Modi to direct the CBI to probe the activities of chit fund companies and unauthorised collection of funds in the northeastern state, a minister said here on Wednesday.

Odisha earmarks Rs 300 crore for chitfund-affected depositors

 Odisha Finance Minister Pradip Kumar Amat on Thursday said the state is keeping aside Rs 300 crore towards a corpus fund for protecting interest of depositors in the supplementary budget for 2014-15.

Court seeks report on Saradha accused Kunal's suicide bid within two days

A city court on Monday sought a detailed report from Presidency Jail authorities within two days as to how the untoward incident of Saradha scam accused Kunal Ghosh allegedly making a suicide attempt in jail could happen despite after being cautioned by the court to keep a strict vigil.

Ponzi scheme: ED attaches Rs 1.04 crore assets of Mumbai firm

The Enforcement Directorate (ED) has attached properties worth Rs 1.04 crore in connection with its money laundering probe against a Mumbai-based firm and its owner for allegedly running illegal chit fund schemes few years back.

Trinamool Congress does not need chit fund money: Mamata

With the CBI and the Enforcement Directorate closing in on the Saradha money trail, West Bengal Chief Minister Mamata Banerjee today said her party does not need chit fund money to run its affairs and warned those engaged in "political maligning" to shield the "real culprits"

EOW seizes 1.622 kg gold, 208 kg silver coins from Ponzi firms

Odisha government`s economic offence wing (EOW) and state police have seized cash worth Rs one crore, 1.662 kg gold and 208.840 kg silver coins and other valuable items from different ponzi companies between 2012 and June, 2014, official sources said.

Chit fund scam, natural calamities hit Odisha in 2013

Overcoming challenges like chit fund scam and other controversies that rocked Odisha in 2013, the ruling BJD swept the civic bodies polls to remain buoyant ahead of the Assembly Elections.

Chit fund agent commits suicide in Tripura

An agent of two chit fund groups - Ramel and Support India -- committed suicide following pressure from depositors to return their money, police said on Wednesday.

Chit fund agent commits suicide in Tripura

Laxman Singha, 42, an agent of a non-banking financial company (NBFC), committed suicide in Tripura following pressure from depositors, police said Wednesday.

Chit-fund panel receives record number of affidavits

The Justice RK Patra Commission, probing fraudulent activities of chit-fund in Odisha, has received nearly seven lakh affidavits as the deadline for receiving them came to an end.

Govt guidelines soon to differentiate genuine, ponzi schemes

To make a clear distinction between genuine direct-selling companies and fraudulent ponzi schemes, the government will soon put in place a set of `model guidelines` to be followed by different states in such cases.

Odisha announces Rs 300 crore corpus for chit fund victims

The Odisha government announced Tuesday that it would create a corpus fund of Rs.300 crore to help chit fund victims in the state.

Chit fund: 15 people arrested in Odisha

Fifteen people including the chief managing director of a chit fund company were arrested on Tuesday in Balasore district for duping investors through illegal money circulation, police said.

Chit fund: 15 people arrested in Odisha

Fifteen people including the chief managing director of a chit fund company were arrested on Tuesday in Balasore district for duping investors through illegal money circulation, police said.

PAC asks RCS to furnish white paper over irregular

Public Account Committee of Odisha Assembly asked the Registrar, Cooperative Society to furnish a white paper over irregularities of chit fund organisations within a month.

Postmaster arrested for diverting deposits to chit funds

A postmaster, who allegedly diverted deposits to a local chit fund company which closed down, was on Saturday arrested from a village in Odisha`s Kendrapara district, police said.

Two arrested in chit fund scam case

A man, who was in-charge of the scam-tainted Saradha Group chit fund company in north Bengal and Malda district, and his wife were arrested by police on a complaint that they siphoned off money taken from depositors.

Centre did not return anti-chit fund bill: Mamata

Amid reports that the Centre has returned the anti-chit fund Bill, West Bengal Chief Minister Mamata Banerjee on Friday said that some clarifications have been sought on the bill sent for presidential assent.

CPI demands CBI inquiry into ponzi scams in Odisha

Terming the judicial probe ordered by Odisha government into the chitfund scam in the state as an `eyewash`, CPI demanded a CBI inquiry into the scandal and confiscation of properties of ponzi firms to refund the duped investors.

Odisha orders judicial probe into chit fund scam

The Odisha government on Thursday ordered a judicial probe into an alleged chit fund scam in the state, an official said.