New Delhi:
Amid a growing controversy over the alleged defrauding of investors by Kolkata-based Saradha Group, the Corporate Affairs Ministry today announced that all chit funds that are non-compliant with markets regulator SEBI will be investigated by the Serious Fraud Investigation Office.
The Saradha Group chit fund scam is said to have defrauded thousands of investors in Bengal, leaving many bankrupt. Its chief Sudipta Sen, who was on the run since his chit fund went bust, was arrested from Kashmir earlier this week. He was produced in a court in Kolkata today where a judge sent him to 14-day police custody.
There were protests outside the court where Mr Sen was produced this morning. While many shouted anti-Saradha Group slogans, some clashed with security personnel and tried to enter the court. Cops had to use batons on to control them.
Alchemist Group, another company under scanner for allegedly raising money from the public by improper means, however might not be investigated by the SFIO. In 2012, the then Corporate Affairs Minister had ordered an SFIO probe against the company. But Alchemist moved the Delhi High Court and obtained a stay order. The next date of hearing is in a few months from now.
The Saradha Group chit fund scam is said to have defrauded thousands of investors in Bengal, leaving many bankrupt. Its chief Sudipta Sen, who was on the run since his chit fund went bust, was arrested from Kashmir earlier this week. He was produced in a court in Kolkata today where a judge sent him to 14-day police custody.
There were protests outside the court where Mr Sen was produced this morning. While many shouted anti-Saradha Group slogans, some clashed with security personnel and tried to enter the court. Cops had to use batons on to control them.
Alchemist Group, another company under scanner for allegedly raising money from the public by improper means, however might not be investigated by the SFIO. In 2012, the then Corporate Affairs Minister had ordered an SFIO probe against the company. But Alchemist moved the Delhi High Court and obtained a stay order. The next date of hearing is in a few months from now.
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