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This is an archive article published on June 7, 2013

Police file 2 chargesheets

Name of Saradha director held with Sudipta,Debjani omitted.

BIDHANNAGAR police,which began the probe into the Saradha chit fund scam,on late Wednesday evening filed chargesheets in two of the seven FIRs at a local criminal court. The chargesheets name Saradha CMD Sudipta Sen,executive director Debjani Mukherjee and another director Manoj Nagel. However,the chargesheets do not name another director,Arvind Singh Chauhan,who was arrested along with Sudipta and Debjani from Kashmir.

What has raised the eyebrows is the haste with which the police have filed the chargesheets — on the 42nd day of the investigation. Police,however,get a 90-day time to file the chargesheet.

Meanwhile,Subrata Mukhopadhyay,the counsel of one of the petitioners seeking CBI probe,told the High Court to demand the chargesheets for examination. Pointing to the omission of Chauhan’s name in the chargesheets,he said the High Court had the authority to intervene.

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He also said Bidhannagar police filed the chargesheet “in a hurried manner to avoid a CBI probe into the case” since the High Court was already engaged in hearing a plea on the issue.

Meanwhile,advocate Bikash Ranjan Bhattacharjee suggested the High Court to form a committee of experts from SEBI,RBI and other central and state agencies to investigate the scam and monitor the probe. However,the bench said the court has limitations in monitoring such probe.

Centre seeks clarifications on state’s anti-chit Bill

The Centre has sent the Bill aimed at curbing dubious chit fund operations back to the West Bengal government for clarifications. The West Bengal Protection of Interest of Depositors in Financial Establishments Bill,2013,was sent by Mamata Banerjee government for Presidential assent last month after the state Assembly in a special session on April 30 passed the Bill. Though the exact nature of the Centre’s queries are not known,sources in the West Bengal Law Department termed the return of the Bill as a “routine” matter. “The Centre was bound to ask questions. During the Left Front regime,when they had passed a similar legislation,at least for the 17 times state government’s officials had to visit to Delhi for clarifications,’’ a source in the law department said.

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