Chit fund scam: Mamata govt against handing over Saradha probe to CBI

THE state government on Friday urged the Calcutta High Court not to hand over the case of chit fund scam involving the Saradha Group of companies to the CBI, claiming that it was a "premature stage" to do so.

The Bidhannagar Police Commissionerate is conducting an investigation after arresting Sudipta Sen, Chairman and Managing Director of the company, it stated in an affidavit submitted to a Division Bench comprising Chief Justice Arun Mishra and Justice Joymalya Bagchi.

The state government further said that Bidhannagar police arrested Sen along with two associates after receiving complaints from the police. It added that it took action on the FIR and that there was no allegation of laxity against the Bidhannagar police in connection with the ongoing investigation.

The state government has now sought time from the High Court to complete the investigation.

Public prosecutor of the CBI Himangsu De, however, told the court that the central agency was ready to take over the investigation into the case. According to sources, the agency said it could start the investigation if the state government provided the manpower and other logistic support.

The counsel of the central government and other agency, meanwhile, told the high court that they have not been given a copy of the petition and affidavit filed by the state government. The Division Bench posted the case for next Wednesday.

Advocate Subrata Mukhopadhyay, counsel of the petitioner, alleged that the state government did not serve the copy of the affidavit only to kill time.

Hearing a separate petition, the Calcutta High Court directed the Reserve Bank of India to file an affidavit stating what action was being taken against those Non Banking Finance Companies (NBFC) that are not authorised to take deposit from the public.

Petitioner Advocate Ramaparasad Sarkar alleged that the RBI had issued a notification disclosing the name of more than 12,000 NBFCs that are not permitted to take deposit from the public but no action was taken against those companies. More than 5,000 NBFCs in West Bengal are not permitted to take deposit from the public, the petition stated.

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