Saradha scam: Corporate affairs ministry to probe Sudipta Sen's companies

New Delhi: The Corporate Affairs Ministry islikely to order a probe into Saradha group companies amidgrowing controversy over the Kolkata-based entity allegedlyduping thousands of investors.

Corporate Affairs Minister Sachin Pilot along with seniorMinistry officials would today hold a meeting to look into thefunctioning of various chit funds including issues related toSaradha group companies.

[caption id=“attachment_726845” align=“alignleft” width=“380”]  Image courtesy: IBN Live.[/caption]

A senior official said the Ministry is likely to order aprobe into the Saradha group companies in the wake of chitfunds scam. The alleged chit fund scam has defrauded thousandsof investors, including poor people, in West Bengal.

Sources said the review meeting today would discuss theactivities of Saradha group companies and other issues.In the past, the Ministry had received complaints ofalleged ponzi schemes at 73 companies of about a dozendifferent groups operating in West Bengal.

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These complaintshave been referred to concerned agencies and departments bythe Ministry.Market regulator Sebi is probing the fund-raisingactivities of Kolkata-based Saradha group. Besides, the IncomeTax department would investigate investments and finances ofSaradha group and the department is already probing five othersimilar cases in West Bengal.

PTI