West Bengal should attach Saradha Group’s properties to pay back investors: Asim Dasgupta

The Calcutta High Court directed the West Bengal government on Thursday to file an affidavit on the steps it had taken after the collapse of chit funds operations of the Saradha Group.

Hearing a public interest litigation petition demanding investigation by the Central Bureau of Investigation (CBI) into the “scam”, a Division Bench comprising Chief Justice Arun Mishra and Justice Joymalyo Bagchi directed the company not to make any more transactions.

Appearing for the petitioner, advocate Subrata Mukherjee demanded the arrest of Trinamool Congress MP Kunal Ghosh for his alleged involvement in the “scam”. Stating that the alleged financial irregularity by the Saradha Group involved other States, including Assam, Mr. Mukherjee prayed before the court to order a CBI probe. The matter will be heard on May 3.

Commenting on the developments involving the collapse of the collective investment schemes of the Saradha Group, the State’s former Finance Minister, Asim Dasgupta, called for a joint probe involving the Securities and Exchange Board of India (SEBI), the Serious Fraud Investigation Office (SFIO) and the CBI as the operations of the company were not limited to the State.

“It needs to be investigated whether the Saradha Group alone is responsible for the crisis or people from other political parties, including the ruling Trinamool Congress, [also are],” Dr. Dasgupta said.