Chit fund scam: Mamata orders closure of two companies
Chit fund scam: Mamata orders closure of two companies
The West Bengal Assembly on Tuesday passed a bill which allows the state government to confiscate assets of chit fund companies that go bust.

Kolkata: As the West Bengal government continues to face the criticism of the Opposition over the chit-fund scam, Chief Minister Mamata Banerjee has ordered closure of two fund-raising companies. "We have given instructions to close the two companies in 24 hours and we are keeping an eye on other such companies," the Chief Minister told reporters on Tuesday in the Assembly lobby after her speech in the House during the passage of the new investors' interest protection bill.

The two companies are among the 73 which are under the scanner of the Corporate Affairs Ministry. In her thanksgiving speech after the passage of the West Bengal Protection of Interest of Depositors in Financial Establishment Bill, 2013 in the House on Tuesday, Mamata said the state government was studying the list of 73 rogue financial companies given by the Centre.

Stating that the new bill was a timely step, the Chief Minister claimed the day would be remembered in history not only in West Bengal, but in the entire country and the world. Mamata said her government took immediate action as soon as the scam came to its notice. Mistakes are made, but could be rectified, she said.

The new bill passed by the West Bengal Assembly on Tuesday allows the state government to confiscate assets of chit fund companies that go bust.

Meanwhile, the CMD of Sun Heaven Agro India has been arrested for his alleged involvement in ponzi schemes running in West Bengal. The police are also grilling Saradha Group director Sudipta Sen. Sources said a few politicians were also likely to be quizzed in connection with the scam.

(With additional information from PTI)

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