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Mamata orders closure of two fund-raising companies

Kolkata: West Bengal Chief Minister Mamata Banerjee today ordered the closure within 24 hours of two fund-raising companies which had two or three sister concerns.

"We have given instructions to close the two companies in 24 hours and we are keeping an eye on other such
companies," the chief minister told reporters in the Assembly lobby after her speech in the House during the passage of the new investors' interest protection bill.

Mamata orders closure of two chit fund companies. PTI.

Mamata orders closure of two chit fund companies. PTI.

In her thanksgiving speech after the passage of the West Bengal Protection of Interest of Depositors in Financial Establishment Bill, 2013 in the House, the chief minister said that the state government was studying the list of 73 rogue financial companies given by the Centre. Stating that the new bill was a timely step, she claimed that the day would be remembered in history not only in Bengal, but in the entire country and the world.

Banerjee said that her government took immediate action as soon as the scam came to its notice. Mistakes are made, but could be rectified, she said. Banerjee thanked the President for returning the
previous bill to help the state government to introduce strong legislation to rein in chitfund companies.

So long as the old bill was not withdrawn, it was difficult to cope with the situation, she claimed. Pointing to the opposition benches, the chief minister said those who could not understand, would never understand. At this Left Front members walked out jeered by Trinamool Congress members.

The LF members said that Banerjee should restrict her speech to the thanksgiving and not criticise the opposition. Banerjee said that the Left Front members should be allowed to walk out peacefully as they would only criticise and not hear her speech.

She said that the Governor would return to Delhi from abroad on on May five when Finance minister Amit Mitra and Chief Secretary Sanjay Mitra would get his assent for the new bill. The bill, she said, would then be forwarded to the Centre which she urged to expedite it.

PTI