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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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.
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 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.
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.
Foreign direct investment (FDI) inflows into India have crossed the $1 trillion milestone in the April 2000-September 2024 period, firmly establishing the country's reputation as a safe and key investment destination globally. According to data from the Department for Promotion of Industry and Internal Trade (DPIIT), the cumulative amount of FDI, including equity, reinvested earnings and other capital, stood at $1,033.40 billion during the said period.
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).
Ramoji Rao lived as the interface between business and politics and was an active participant in both for most of his remarkable life.
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.
Ramoji Rao's rise to become the founder of Eenadu, the largest circulated Telugu daily, and a tycoon, from humble beginnings is legendary.
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.
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.
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.
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.
William S Pinckney was arrested by the Kerala police for alleged violation of the Prize Chits and Money Circulation Schemes (Banning) Act.
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.
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.
The chief minister said the situation was not a crisis and dubbed the protesters Communist Party of India-Marxist cadres.
Sukanya Verma's OTT recommendations this week.
The 54-page document tabled in Parliament detailed how the Modi-government pull the economy from being counted among the most fragile-five in the world to being the fasted growing and the most attractive investment destination.
Congress president Mallikarjun Kharge on Monday expressed apprehension that the 2024 Lok Sabha elections would be the last opportunity for the people to save democracy, as Prime Minister Narendra Modi might prefer dictatorship in case his party wins the upcoming polls.
A 'White Paper' versus 'Black Paper' battle erupted on Thursday as the Centre and the Congress unveiled documents and crossed swords over the handling of the Indian economy during the nearly 10 years of the BJP-led NDA rule and the previous 10-year tenure of the Congress-led UPA government.
Here is a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis of the ruling Congress in Chhattisgarh.
ITo steer clear of sanctimonious newspaper stories all your life, and then be saddled with movies like Kadak Singh -- now there's a rotten bit of luck worth moaning about, sighs Sreehari Nair.
Here is a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis of the ruling Congress in Chhattisgarh.
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.
A team of CBI officers reached his residence in south Kolkata's Chetla area along with a large contingent of central forces in the morning, officials said.
Markets regulator Sebi on Thursday said it has lined up three properties of Saradha Group of Companies for an auction on December 16, at a reserve price of Rs 5.21 crore. The move is part of Sebi's efforts to recover money raised by the company from the public through illicit schemes. In a notice, the Securities and Exchange Board of India (Sebi) said the auction will be conducted between 11 am to 12 pm on December 16, 2022. The properties to go under the hammer include land parcels located in West Bengal.
'Mamata did not stand up for those who suffered owing to the chit fund scam, but only stood up for Police Commissioner Rajeev Kumar because he has all the knowledge about the chit fund case.'
Markets regulator Sebi on Friday said it has lined up as many as 69 properties of Saradha Group of Companies for an auction on November 1 at a reserve price of Rs 30 crore. The move is part of Sebi's efforts to recover money raised by the company from public through illicit schemes. In a notice, the Securities and Exchange Board of India (Sebi) said the auction will be conducted between 11 am to 1 pm on November 1, 2022.
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.
Erroneously labelling it a chit fund may unwittingly give this questionable company legal wings to fly.
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.
The Saradha group of companies allegedly duped lakhs of people to the tune of Rs 2,500 crore, promising higher rates of return on their investments.
A special CBI team had been searching for Kumar, who is now the additional director general of police in the criminal investigation department, across various locations in Kolkata.
Kumar is being interrogated at the highly secured CBI office at Oakland area in the Meghalaya capital where three senior CBI sleuths from Delhi reached on Friday.
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