SFIO probes TMC MPís firms for fraud
- India’s surgical strikes along LoC show intent to act strongly against terrorists
- US NSA Susan Rice calls up Ajit Doval, says 'expect Pakistan to take action against terror'
- PM Modi holds Cabinet Committee on Security meeting; Rajnath, Jaitley, Doval present
- Narendra Modi's review meet on MFN status to Pak postponed to next week
- Day after sharing terror information with Pakistan, NIA revises details
The Serious Fraud Investigation Office (SFIO) has begun probing two companies of Trinamool Congress MP and businessman K D Singh, who is also a close aide of TMC chief Mamata Banerjee, on suspicion that they raised money in violation of rules.
Singh is the chairman of the Alchemist Group and two of his firms ó Alchemist Capital Ltd and Alchemist Holdings Ltd ó are suspected of raising money from the public on different premises in violation of RBI and SEBI guidelines. His company website describes Singh as "Indian entrepreneur, visionary and statesman". It says the group has 11 companies with over 8,000 employees across India and an asset base of Rs 10,000 crores.
Singh entered the Rajya Sabha as a Jharkhand Mukti Morcha nominee and switched over to Trinamool. He is the party's face in north India and is also spearheading the TMC's foray into Assembly elections in Himachal Pradesh. Singh is also the brain behind the high-decibel campaign by the TMC to make its presence felt in Delhi and Haryana.
Reached for his comment, Singh said he was not aware of the inquiry and the government action appeared to be political vendetta. "I am not aware of any inquiry against any of our companies. Although I have resigned from all positions in the companies, I can tell you that we are a transparent group and I am sure we will provide answers to all questions raised by any government authority," Singh told The Indian Express over phone from Himachal Pradesh.
"Having said that, it is clear that the government action definitely smacks of political vendetta. Now that the TMC has pulled out of the UPA government due to its anti-people policies, such a backlash is not surprising."
Sources told The Indian Express that following preliminary investigation on a "complaint/reference" made by RBI, which was following up on a letter sent by CPI leader and Rajya Sabha member D Raja, the Registrar of Companies (RoC), Delhi, last month concluded that there was a need to investigate thoroughly the activities and financial transactions of the two companies.
- Let’s not allow debate about what it means to be Indian to be held hostage to jingoists and bigots
- Telescope: From Fawad Khan to Kalki Koechlin, journeys to keep an eye on
- Shouldn’t weekly off day be a matter of choice, instead of being dictated by law?
- India’s search for alternatives to regional forum must quicken
- Struggle against caste system & capitalism are inextricably linked
- Power struggle within weakens Samajwadi Party already undergoing an identity crisis in UP