Thursday, April 25, 2013

Even my cook is a director in the company, says Sudipta

Kolkata: Five days before he fled Bengal, Sudipta Sen chose his partner in escape. It was the same person he had mentioned in his letter to the CBI as his most trusted aide. He chose right. Arvind Chauhan, boss of Saradha’s Jharkhand operations, stuck with him till the end.

In the letter (a copy of which is with TOI), Sen suggests that the authorities can depend on him in case the government takes over Saradha or attaches property to pay back depositors. “In Jharkhand Arvind Chauhan, GM, is very honest and dedicated. He will extend all support to the special officer, but the land amount alone will not cover the total investors’ amount and the balance has to be taken from the Bengal property,” says the letter.

The 17-page letter is an attempt by Sen to disclose “everything and everyone”. It gives a glimpse into how he set up the empire of thousands of crores of rupees and names those “duped him, used him and backstabbed him (at gunpoint)” to make money from him.

According to Sen, the story began in June 2008 when a one Shib Narayan Das came to his office to meet him.Sen alleges that it was Das who sold him the idea of stepping into money market.

The offer was tempting, admits Sen. Of the total money generated from the market, Das and his team would retain 30%, and the rest would be returned to depositors after 10-12 years at the rate of 12% per annum. “I had to give them social protection and legal protection,” Sen writes, adding: “I did not apply my mind because I did not have any idea about the money market.” On July 8, 2008 Saradha Realty India Ltd was formed. Das was appointed director and shareholder and Subir Das was made marketing head.

“Truly, I did not know that the money from the people is in violation of the regulating authority like Sebi, RBI,” he writes. He admits that all the shareholders and directors “are dummies”. “Neither do they have any capacity to invest nor did they want to become director. They signed the consent letter only because of their relationship with me. Even my cook Hemanta Pradhan was included as director though he does not know the meaning of director,” he writes.
Saibal Sen TNN

1 comment:

  1. Agrigold is the South Indian version of Saradha Modus oparandi is same