PART-16. Saradha Group financial scandal : MAMATA After taking over as CM of West Bengal, defeating Communists, she could not manage her State, now in Delhi protesting and abusing PM Along with a bunch of evil associates.
10/12/2016.
908.
All Members,
Respected family members of this great holy Nation.
Sub : Saradha Group financial scandal
Ref : After taking over as CM of West Bengal, defeating Communists, she could not manage her State, now in Delhi protesting and abusing PM Along with a bunch of evil associates
SCANDAL STORY :
Part-16. Judicial reactions :
1.
On 22 April 2013, separate Public Interest Litigations (PIL) were filed in Guwahati High Court by RTI activist Akhil Gogoi and in Calcutta High Court by advocate Basabi Roy Chowdhury and subsequently by advocate Rabi Sankar Chattopadhyay and Bikas Ranjan Bhattacharya, both seeking CBI investigation against the Saradha Group and other chit fund companies.
On 25 April, responding to the PIL, a division bench of Calcutta High Court comprising Chief Justice Arun Kumar Mishra and Justice Joymalya Bagchi said that because the ramifications of the scam included other states, a central agency would do justice to the investigation.
The court gave state government one week to submit its investigation report to see whether the probe was being conducted in a fair manner.
On 7 May 2013, Calcutta High Court appointed a three-member administrator group to run Tara News and Tara Muzic.
The High Court then allowed the SIT to continue with the investigation and ordered it to submit a timely progress report before the court.
The petitioners were dissatisfied with the order and appealed to the Supreme Court of India in July 2013 via a Special Leave Petition (SLP).
Before the Supreme Court the Government of West Bengal stated that the investigation into the scam was being successfully conducted by the SIT.
2.
The state governments of Orissa, Jharkhand and Tripura, which were respondent to the case, requested a CBI enquiry.
The SC bench led by Justice T.S. Thakur and Justice C. Nagappan in April, 2014 said the Supreme Court may order a CBI probe into all money collection entities in India.
On 9 May 2014, the same bench of the Supreme Court ordered CBI to investigate all Ponzi schemes, including Saradha, in Eastern India.
The Court also clarified the concurrent attachment and auction of the assets of suspected Ponzi companies to reimburse depositors at the end of the judicial proceedings initiated by Enforcement Directorate authorised under federal laws and various state agencies authorised under state laws would also run parallel to the CBI investigation.
Next : Part-17. Economic effects :
Thank you for reading
JAIHIND.
To be continued....
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