Bhubaneswar/Kolkata: The virtual collapse of the Kolkata based chit-fund company, Saradha group, which has interests in fields like realty, education and media, among others, have rattled both West Bengal and Balasore district of Odisha in particular, as one of directors of the company was arrested on Saturday.Citizens took to the streets across West Bengal, agitating against the chit fund institution after they failed to get back their invested money.
Irate mob, comprising investors and agents of the company, ransacked the offices of the Saradha group in several districts across the state. The protests even led to clashes with the police in some areas.
In Durgapur, an agent of Saradha named Yadav Majhi, committed suicide allegedly after he came under depositors’ ire to return their money.
One of the directors of the chit fund company Manoj Kumar Nagel was arrested on Saturday while it’s Chairman and Managing Director Sudipta Sen is still on the run.
The group’s connection with Trinamool Congress became evident after the party’s Rajya Sabha member, Kunal Ghosh, was appointed by Sen as CEO of one if his Group of Companies.
West Bengal government has already ordered Mr Sen’s arrest.
Pressure on its finances recently forced the group to wind up at least 10 media organisations, including newspapers and television channels it had launched or acquired since 2010-11.
Courtesy:
ORB April 21, 2013
http://www.odishareporter.in/top_news/kolkata-based-chit-fund-company-saradha-group-scam-singes-odisha
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