A large number of companies, either based out of this eastern state or having a significant presence there, are being probed for running illicit 'collective investment schemes', while penal action has already been initiated by Sebi against over 20 other entities from the region.
SBI Capital, Axis Capital, GMR Holdings, United Breweries, Alpic Finance (a Cipla group unit), Saradha Realty, United Bank of India and Trident India are among the prominent entities named in the list.
While the Trinamool government, led by Chief Minister Mamata Banerjee, tried its best to attract investors, including from Singapore, not much headway could be made.
Draped in black shawls, Trinamool Congress MPs on Monday staged a protest outside Parliament House against the arrest of West Bengal minister Madan Mitra in the Saradha chit fund case, accusing the Centre of misusing the Central Bureau of Investigation.
The government on Thursday gave more powers to market regulator Securities and Exchange Board of India to crackdown on ponzi schemes, access phone call records to check insider trading and carry out search and seizure operations.
One of the key reasons for corporate movie makers, such as Reliance and Viacom18, to flock to Tollywood is the growth regional content has shown in recent times.
As Rose Valley resurfaces, Sudip Bandyopadhyay and Tapas Pal's arrests marks the end of the bonhomie between the TMC and BJP.
In a blow to the prestige of the saffron brigade, Bharatiya Janata Party's national vice president Mukul Roy along with son Subhranshu, rejoined the Trinamool Congress on Friday, with Bengal Chief Minister Mamata Banerjee and other leaders of the state's ruling party welcoming the prodigal back to the fold.
A group of young girls from Chennai shaved off their heads earlier this year. That donation has gone for a special cause. Read on!
It is possible that the December clashes in Assam merely exploited an issue simmering for decades. The motivation, however, was something else, says Aditi Phadnis
The measures needed for implementing this new system would start rolling in few weeks, the minister added.
The Saradha chit fund scam on Wednesday snowballed into a major political controversy with the names of two Trinamool Congress Members of Parliament figuring in a letter purportedly written to the Central Bureau of Investigation by the collapsed company's chairman Sudipta Sen.
Banerjee said she was doing so after consulting leaders of major opposition parties and following 'a favourable court order'.
The regulator is also exercising its new powers like collection of information from other regulators, government departments and even commercial enterprises such as telecom companies and banks.
The party is less forthcoming about who the chief minister will be if it stays in power.
Rose Valley is one of the biggest money businesses after Sahara.
What Roy is planning is not known. Will he side with the BJP, which he calls 'non-communal'? Or will he float a party? Or revive the Nationalist TMC to further his political career?
Against the backdrop of the Lok Sabha results, a much larger scale of desertion was anticipated from the TMC. 'It seems, people don't believe that the ship is sinking.'
The CVC had received a complaint accusing Goswami of influencing decisions linked to Sinh and an enquiry in the case is going on, official sources said.
The agency is looking at alleged "diversion of funds and financial reporting frauds".
The prime minister witnessed the protests when he travelled to the Raj Bhavan in Guwahati, where he will spend the night, from Lokopriya Gopinath Bordoloi International Airport.
The chief minister skipped meals and remained awake the entire night on a makeshift dais along with some senior ministers and party members.
Anil Kumar Sinha, a 1979-batch Indian Police Service officer, on Wednesday took over the reins of the Central Bureau of Investigation at a time when the agency is facing criticism from courts over its handling of probe in coal allocation and 2G scams.
Bogged down by inefficient administration and unable to attract financing, the once legendary football clubs of Kolkata are fading into irrelevance.
The Trinamool Congress and the Bharatiya Janata Party on Monday targetted each other in Parliament, leading to clashes and walkouts. The TMC displayed in both Lok Sabha and Rajya Sabha the copies of some red diary, allegedly recovered from Sahara group chief Subrata Roy, and claimed that it contained the name of a BJP leader.
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Sebi on Monday decided to declare illegal mobilisation of funds as a "fraudulent and unfair trade practice".
The West Bengal CM's media equation wasn't always this bad. In the run-up to the assembly elections of 2011, she was a clear favourite.
The Enforcement Directorate on Sunday conducted searches in various Uttar Pradesh cities after it registered a money laundering case to probe the alleged Rs 3,700 ponzi scam case perpetrated by seeking fake social media 'likes' from lakhs of gullible investors by a Noida based firm.
The news of Bengaluru-based IMA cheating thousands once again underlines the need for investors to steer clear of unregulated deposit schemes. The most important sign of a Ponzi scheme is the promise of exorbitant returns and so investors must ask how the promoter expects to earn the kind of return he is promising, says Sanjay Kumar Singh.
'Now that there is an election in the offing, she is repeating the same old promises. Does she think the people of Bengal are fools to fall for her lies?'
The Narendra Modi government on Monday sprang a surprise when it appointed senior IAS officer Rajiv Mehrishi as Union home secretary in place of incumbent L C Goyal, who sought voluntary retirement after taking over the charge seven months ago.
Banerjee has fulfilled two key electoral promises: Ridding Lalgarh of Naxals and bringing peace to Darjeeling
Rajeev Kumar, the Kolkata police commissioner, is known for his impeccable investigating and electronic surveillance skills.
Under U K Sinha, Sebi became a pan-India organisation with local offices in 16 cities
Even Delhi does not have a full-time registrar of chits.
According to him, there are enough laws but their implementation is important.
Prime Minister Narendra Modi's offer of central assistance in arresting the downward slide in West Bengal and National Security Advisor Ajit Doval's ongoing trip to the state and his asking for Mamata's cooperation in handling the situation and in dissolving the anti-national and inter-country network of jihad that has now chosen her state as one of its base, is perhaps Mamata's last best chance to salvage the situation, says Dr Anirban Ganguly.
'If the Congress is to challenge the NDA government, Rahul Gandhi will have to shed his indifference to Parliament, become more visible and vocal and, essentially, lead from the front,' says Rediff.com contributor Anita Katyal.
Investors can take heart from the first Cabinet meeting in the second innings.
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