In a letter the Central Bureau of Investigation dated April 6, West Bengal's chit fund scam accused and Saradha Group promoter Sudipta Sen has accused Trinamool Congress Members of Parliament Kunal Ghosh and Srinjoy Bose of blackmailing him for huge sums of money.
PE/VC investors keen on bolder bets in sect#8744 rise in investment enquiries, growth
The West Bengal government on Friday opposed a prayer for a probe by the Central Bureau of Investigation into the multi-crore chit fund scam, claiming in an affidavit to the Calcutta high court that at this stage, credibility of the investigation by the state police cannot be doubted.
The Communist Party of India-Marxist on Thursday demanded a CBI probe into the multi-crore chit fund scam in West Bengal and asked the state government to confiscate all properties of Saradha Group to pay off thousands of small investors left in the lurch.
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West Bengal Chief Minister Mamata Banerjee keen on framing a stringent act to prevent malpractices by chit fund firms.
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.
Chandy Oommen, son of the late Oommen Chandy, protested against the LDF government while casting his vote in the Puthuppally Assembly election, citing harassment of his father and inadequate constituency funding.
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.
From modest beginnings in Thrissur in the 1800s to provide loans to traders and merchants to tide over financial problems, chits funds or kuri companies have grown by leaps and bounds in Kerala, with an estimated annual turnover of Rs 70,000 crore (Rs 700 billion).
The Congress on Thursday said that the West Bengal government was opposing a Central Bureau of Investigation probe into the chit fund scam for fear that it would reveal information which would prove "dangerous" for it.
The Congress party in Maharashtra has accused senior police officials, including an IPS officer, of involvement in a multi-crore bogus call centre racket and is demanding a high-level investigation.
The FIR was filed on Thursday night at the Park Street police station by journalist and non-journalist employees of Channel 10 stating that they were not paid salaries for the last three months despite repeated assurances, a senior journalist of the channel Bithin Sarkar said on Friday.
Govt, however, is readying new Bill that will give it more teeth to deal with such scams.
West Bengal Chief Minister Mamata Banerjee is set to hold a dharna in Kolkata against alleged arbitrary deletions in the state's electoral rolls, marking a return to her roots as a street fighter and signalling a key political battle ahead of Assembly elections.
Veteran politician and former railway minister Mukul Roy, a key figure in West Bengal politics, has died due to cardiac arrest, marking the end of a significant era.
A couple from Kerala, running a chit fund company in Bengaluru, has allegedly fled after cheating over 1,300 investors of more than Rs 50 crore. Police have launched a manhunt and are investigating the extent of the fraud.
A Kolkata sub-divisional magistrate's court on Thursday sent Ponzi king Sudipto Sen and two other accused to police custody for 14 days over their role in the Saradha chit fund scam. Media reports said the bail pleas of the three swindlers had been rejected and that they were charged for fraud and criminal breach of trust under Sections 406 and 420 of the Indian Penal Code.
Seeking a Central Bureau of Investigation under court supervision into chit fund scam in West Bengal, Left parties on Thursday accused the Mamata Banerjee government of opposing such a probe into the "unprecedented fraud" and failing to take any step to recover "hard-earned" savings of the people.
Central Bureau of Investigation on Wednesday registered a record number of 46 cases in a day in connection with its probe in the Rs 10,000-crore Saradha chit fund scam naming Trinamool Congress' sitting Rajya Sabha MP Kunal Ghosh as one of the accused.
William S Pinckney was arrested by the Kerala police for alleged violation of the Prize Chits and Money Circulation Schemes (Banning) Act.
Promising Central Bureau of Investigation probe into mining, chit fund and other scams in Odisha, Congress on Friday said it would review all MoUs signed by BJD government in the state in last 10 years, provide pucca houses to landless and allowance to unemployed youths if voted to power.
About 17 lakh investors, mostly in West Bengal, who have lost crores of rupees in the Saradha chit fund scam are fast losing hope. The scandal continues to roil West Bengal political circles with several ruling Trinamool Congress leaders being implicated and some arrested. Even West Bengal Chief Minister Mamata Banerjee's name has been dragged into the sordid mess. Indrani Roy presents a FAQ on what the scam is about and the main players behind it.
FDI inflows into India are expected to register robust growth in 2026, supported by strong macroeconomic fundamentals, big-ticket investment announcements, sustained efforts to improve the ease of doing business, and a new generation of investment-linked trade pacts.
The Enforcement Directorate (ED) has seized Rs 1.5 crore in cash from the premises of a chit fund company owned by Gokulam Gopalan, one of the producers of the Malayalam movie "L2: Empuraan", in connection with foreign exchange law violations. The searches were conducted at locations in Kozhikode, Kerala and Chennai, Tamil Nadu. The ED alleged that the company collected subscription to chit funds from persons residing outside India without due permission and violated regulations framed by the Reserve Bank of India (RBI).
In a big boost to tycoon Gautam Adani, markets regulator Sebi on Thursday cleared the billionaire and his group of stock manipulation allegations made by US short-seller Hindenburg Research, saying fund transfer between group companies did not fall foul of any regulation.
The chief minister said the situation was not a crisis and dubbed the protesters Communist Party of India-Marxist cadres.
"L2: Empuraan", the second part of the "Lucifer" movie, a trilogy planned by the Prithviraj-Mohanlal team, has become a topic of hot debate over its critique of right-wing politics and the covert mention of the Gujarat riots.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
TVK cadres are worried, the leadership looks weak, and the party is not fully prepared for the 2026 elections, observes N Sathiya Moorthy.
Erroneously labelling it a chit fund may unwittingly give this questionable company legal wings to fly.
Copies of the bill, to be moved by Finance Minister Amit Mitra tomorrow for consideration and passage, were circulated among members on the first day of a two-day special session of the Assembly on Monday.
The Enforcement Directorate (ED) on Thursday issued summonses to two Trinamool Congress leaders, including MP and popular Bengali actor Dev, for questioning in connection with its probes into money laundering cases, an official said.
The Rajasthan Anti-Corruption Bureau on Thursday arrested an Enforcement Directorate officer, posted in Manipur, and his associate in Jaipur for allegedly taking a bribe of Rs 15 lakh for settling a matter related to a chit fund case, officials said.
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Ramoji Rao's rise to become the founder of Eenadu, the largest circulated Telugu daily, and a tycoon, from humble beginnings is legendary.
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The three points on which clarifications are sought include widening of powers of special designated courts and that no court could grant anticipatory bail and a suggestion by the Centre for adding a new provision for compounding offences.
According to official figures, only 30 per cent of the total population in Assam has bank accounts, reports K Anurag
West Bengal Chief Minister Mamata Banerjee on Friday vowed that she will not rest till money is repaid to the thousands defrauded allegedly by the Saradha Group and said that a new law was being brought to protect the interests of investors. "I am happy that a new law is coming. However, I will not be happy till we are able to return the money to investors," Banerjee said, adding that many poor people had invested in the Saradha Group.
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