Saradha Chairman Sudipta Sen arrested

Last Updated: Tue, Apr 23, 2013 13:32 hrs

Sonmarg/Kolkata, Apr 23 (IBNS): Saradha Group Chairman and Managing Director Sudipta Sen and two others were arrested at Sonmarg in Jammu and Kashmir on Tuesday in connection to the chit fund scam in West Bengal, media reports said.

Sen was absconding since Saradha Group collapsed recently.

According to reports, the Jammu and Kashmir Police intercepted them when they were going from Srinagar to Sonmarg.

A team of the West Bengal Plice is on its way to Srinagar.

Saradha Group went bust recently and left lakhs of depositors in a fix.

West Bengal Chief Minister Mamata Banerjee on Monday announced the setting up of an inquiry commission and a Special Investigation Team (SIT) probe into the collapse of Saradha Group.

Speaking to reporters, Banerjee on Monday said: "The commission headed by retired Justice Shaymal Sen will look into how much money has been collected. It will see that who all were the depositors and how we can return the money."

Several offices of the company in West Bengal have shut down and many of its cheques have bounced in the last few days, reports said.

A Public Interest Litigation (PIL) has been filed in the Calcutta High Court in connection to the chit fund scam that has rocked West Bengal.

The PIL sought a Central Bureau of Investigation (CBI) inquiry against the Saradha Group.

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