An embattled Trinamool Congress
The Central Bureau of Investigation's inquiry into the Saradha Ponzi scheme that deprived millions of small depositors in eastern India of thousands of crores seems to be heading for a dramatic climax.
With the arrest of a former director general of police of West Bengal, Rajat Majumdar, who after his retirement was at one time a consultant to both the West Bengal government and the Saradha group - and close to the top leadership of the ruling Trinamool Congress - there is intense speculation as to whom the investigating agency will nab next.
Two senior politicians in the Trinamool Congress appear to be vulnerable, with former aides of one of them having been questioned.
These leaders owe their position to Chief Minister Mamata Banerjee, who now seems to be somewhat embattled.
If the splash that the financial scandal has created finally reaches the doorstep of Ms Banerjee, the big question is what impact it will have on the course of the state's politics.
Text: Business Standard
Images courtesy: PTI