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ED attaches Saradha Group assets

February 26, 2014 18:09 IST
Saradha agents stage dharna demanding compensation in Kolkata.

The Enforcement Directorate has attached the properties of Saradha Group of companies in West Bengal and Odisha worth Rs 35.4 crore (Rs 354 million).

A statement issued by the directorate on Wednesday said the ED eastern region had registered cases against Saradha Group of Companies in Kolkata, Bhubaneshwar and Guwahati under the provisions of Prevention of Money Laundering Act.

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ED attaches Saradha Group assets

February 26, 2014 18:09 IST

Based on the details collected on the ponzi scheme scam, the ED had attached properties worth Rs 34 crore (Rs 340 million) in West Bengal and Rs 1.4 crore (Rs 14 million) in Odisha.

The attached assets included buildings, bank accounts and landed properties held in the name of Saradha group and its directors.

The ED also attached the equity shares of Broadcast Worldwide Limited (Tara TV channels).

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The image is used for representational purpose only

ED attaches Saradha Group assets

February 26, 2014 18:09 IST
(Inset) Saradha group owner Sudipta Sen.

It is in the process of identifying other channels and end points of money laundering, the statement said.

Sudipta Sen, chairman of the now defunct ponzy scheme company , was last week sentenced by a Kolkata court to three years in jail.

Saradha, one of eastern India’s biggest deposit-taking firms, went bust in April last year after it defaulted on depositor repayment to thousands of investors.

 

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