Comments
Despite the West Bengal Government mulling stringent legislation to curb collective investment schemes, protests and incidents of suicides by both depositors and agents of the Saradha Group poured in from different parts of the State on Sunday.
One of the directors of the Group, Manoj Kumar Nagel, who was arrested late Saturday evening, was remanded in police custody for questioning. While Sudipta Sen, the Managing Director, is absconding, a lookout notice has been issued by the State intelligence agencies.
According to the police, there were at least two confirmed reports of death and one attempted suicide since Saturday evening. Police-pickets have been set up across the State to prevent a law and order crisis.
Reports suggest that Urmila Pramanik (50) from the South 24-Parganas district had committed suicide by setting herself ablaze. Another reported death was that of 33-year-old Jadhav Majhi, an agent of the company.
agents arrested
Irate depositors, meanwhile, took to the streets in several districts — Burdwan, Jalpaiguri and South 24- Parganas — ransacking Saradha offices. Homes of different agents who used to work for the company were either vandalised or set ablaze in some cases.
A few hundred agents are already on the run. Based on complaints of fraud and cheating by the depositors, some agents have also been arrested.
While some agents had besieged the Chief Minister’s residence on Friday, a day later others carried out a demonstration in front of the Trinamool Congress headquarters in the eastern parts of the city.
On Sunday morning, a few hundred agents carried out a sit-in demonstration near the Kolkata airport demanding the arrest of the Saradha Group Managing Director.
The Trinamool, on its part, claims that the Government or the party was not involved with the company in any manner.
“I have changed three numbers so far and have come to Kolkata from my home in the districts. I am afraid to go back home. If people in my locality catch me, I will be lynched,” Balai Dobi, one of agents said. Dobi is from South 24-Parganas and he has to repay around Rs 30 lakh which was due in March.
He, along with a group of 20 other agents, had come to meet the Trinamool Congress leaders in Kolkata seeking their intervention.
Meanwhile, Trinamool Congress General Secretary Mukul Roy pointed out the State Government was mulling a legislation to regularise these collective investment schemes.
According to Roy, the State Government would look to set up a legal frame-work that would ensure that there is a control on the operations of these organisations.
Strict action will also be taken in case of payment defaulted or fraudulent practices.
“While I am not sure of the exact details, the state government is mulling a legislation to regularise the collective investment scheme firms,” Roy said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.