Chitfund scam hit IFA Shield tournament

KOLKATA: Financial crisis in the aftermath of the chitfund scam in West Bengal has hit hard the 118-year-old IFA Shield which is still looking for sponsors as it will get underway with eight teams from January 29-February 11.One of the oldest football tournaments of the world, the Shield is sandwiched between the ongoing Federation Cup and the final leg of the I-League as many top clubs of the country will be missing from action.

HC directs SFIO to further probe Tower Infotec chit fund scam

The Calcutta High Court Monday directed the Serious Fraud Investigation Office (SFIO) to continue investigations into allegations that Tower Infotec, a Kolkata-based company had violated legal provisions of SEBI.

Kunal Ghosh arrested in Saradha chit fund scam

Kunal Ghosh Arrested

Kolkata: Police arrested suspended Trinamool Congress leader Kunal Ghosh on Saturday in connection with the multi-crore Saradha Group ponzy scam. 
The development came just few minutes after Left Front chairman Biman Bose demanded a CBI probe into the chit fund scam and claimed that several names other than that of its chairman Sudipta Sen had cropped up in connection with it. 

Saradha chit fund scam: Kunal Ghosh summoned by ED

Suspended Trinamool Congress MP Kunal Ghosh has been summoned by the Enforcement Directorate for questioning in the Saradha chit fund scam on October 29.
"The enforcement directorate has summoned me for questioning and they said either me or any authorised representative can visit the ED office. But I have decided that I myself will go to the ED office and cooperate with them fully," Ghosh told reporters in Kolkata on Sunday.

Suspended MP gives crucial papers in chit fund scam

Suspended Trinamool Rajya Sabha MP Kunal Ghosh, who was quizzed by the ministry of corporate affairs’ investigative wing –Serious Frauds Investigation Office (SFIO)— on the Saradha chit fund scam, was said to have handed over some crucial documents to the investigators on Friday. 
According to sources, SFIO will also quiz another the Trinamool MP for his alleged involvement in the scam, which duped lakhs of investors into depositing in ponzi schemes. 

Chit fund probe panel seeks six months extension

The Justice R K Patra commission of inquiry, constituted to probe illegal collection of money by chit fund companies has sought an extension for six months for completing its investigation.
The one-man commission has written to the state home department to extend its tenure.
Sources said, the commission has received about 6,00,000 affidavits as on September 28 and urged the state government to appoint three lawyers for scrutinizing the affidavits. With the increasing number of affidavits already received, the commission's tenure has been extend four times.