In a major blow to Trinamool Congress, West Bengal State Transport Minister Madan Mitra has been arrested by CBI in connection with Saradha chit fund scam.
Madan Mitra, a close loyalist of Mamata Banerjee was called by CBI for questioning in this case on the morning. He was later formally arrested by the investigative agency. Already two other top TMC leader Kunal Ghosh and Srinjoy Bose are in custody in connection with this case. Madan Mitra's arrest will only increase political pressure on TMC and its leader Mamata Banerjee. BJP, which is vying to be the principle opposition party in the state has already traded their guns against TMC in this case. BJP President Amit Shah has accused of links between Saradha scam and Burdwan blast case.
Madan Mitra was earlier supposed to be interrogated by CBI but entire process was delayed as he was ill and admitted to hospital. Madan Mitra has always maintained that he is innocent and has no connection with the Saradha group.
To a question about why he has been targeted by the opposition in the Saradha Scam, Mitra earlier said "Ask those who have targeted me." "I am in no way involved in the Saradha scam and not a single allegation against me is true," Mitra said when asked about allegations by opposition that he took benefits from Saradha Group Chairman Sudipto Sen.
"I have not taken a single paisa from the Saradha Group. I only attended a programme organised by it without knowing its background or activities as a chitfund company. I regret this," Mitra said. "I have no involvement with the activities of Saradha Group. I never asked investors to deposit money there. Rather I am against any activities involving chitfund," he said adding he neither an employee of the Saradha Group, nor had any business agreement with it.
The Kolkata-based Saradha Group's ponzi scheme had over 10,000 registered chit funds across the country and with an aggregate turnover of Rs.30, 000 crore per annum. The Saradha Group is said to have defrauded thousands of investors, including poor people, in West Bengal, leading to the arrest of its owner Sudipta Sen.
The industry is governed by Chit Fund Act 40/1982 and is regulated by state governments with their own set of rules. Reserve Bank of India is the principal regulator and at the state level Registrar of Chits/The Inspector General of Registration oversees these regulations.
With agency inputs
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