Former West Bengal Finance Minister Ashim Dasgupta on Thursday questioned the State Government’s damage control moves on the issues related to the Saradha scam.
At a press conference, Dasgupta alleged that the Trinamool Congress-run State Government have announced steps that would only “delay” the due process of justice to the innumerable duped small investors.
He said what was required now was “seizing of assets” and “gorging” of siphoned off or transferred money from the recipients. “The need of the hour is to give relief to small investors of the State as well of other States by extracting money from the fraudulent company, so that it can be redistributed among the victims through the court of law,” he said.
He questioned the move of instituting an inquiry commission, which would only have powers to recommend and may not be able to try (the accused). “For that, court is the forum. Instead of moving the court directly, the State Government has taken the devious route, which would waste time.”
The previous (Left Front) Government in 2010 on its own had investigated four such companies, including Saradha, which were collecting money through various schemes. “The department of finance conducted an investigation on their dubious ways of money collection. Even though there was reported non-payment, the State Government raised an alarm with SEBIby sharing the reports”, the former State finance minister said.
He also wondered how the present Government would bridge the resource gap of Rs 350 crore even if it could raise Rs 150 crore through imposition of 10 per cent tax on tobacco products. As such, the proposed Rs 500-crore special fund would be minuscule compared to the total money lost by the investors of Saradha.
He urged the State Government to seek the assistance of CBI, SFIO, the Union Ministry of Corporate Affairs and SEBI for an all-out probe into the massive fraud running into several thousands of crores of rupees.