Supreme Court directs CBI probe into Saradha chit fund scams

The Supreme Court on Friday (May 9) directed a CBI probe in multi-crore chit fund scams in West Bengal, Odisha and Assam in which various companies, including Saradha, are allegedly involved.
Saradha agents at the Justice Shyamal Sen's office on Monday. (IE Photo: Partha Paul)

A bench headed by Justice T S Thakur said that the scams have inter-state ramification and directed the investigation be handed over to the central agency from the state authorities. (IE Photo: Partha Paul)

It also asked the Enforcement Directorate to conduct the probe expeditiously against the accused companies. It however, refused to constitute a committee for the time being to monitor the CBI probe in the scams. (IE Photo: Partha Paul)

The bench directed the state authorities to cooperate with the CBI in the probe and provide all details to the agency. (IE Photo: Partha Paul)

The court passed the order on PILs seeking a stop to the entire chit funds business in the country and also a restraint on further collection of funds from investors as an immediate remedial step. (IE Photo: Partha Paul)

The petitioners had said they have no faith in the police authorities. They had alleged that the proceedings initiated by state governments appeared to be "biased and prejudiced" and sought a CBI probe into the multi-crore scams. (IE Photo: Partha Paul)
Ahead: Man kills wife, three children before committing suicide

A 40-year-old man allegedly killed his wife and three children before committing suicide here this morning, police said. Preliminary investigation revealed that Ananda Gaikwad first killed his wife and three children and then hanged himself from a ceiling fan at their Mahadevnagar society residence in Pandesara area here, they said. (PTI)

The deceased were identified by as Ananda Gaikwad, his wife Jyoti (35), son Jayesh (12), and daughters Nutan(15) and Prajakta (9). Ananda was found hanging from the ceiling fan, while other members were lying on floor and bed, having strangulation marks on their neck, police said. (PTI)