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Saradha group, which is under fire for allegedly defrauding investors, has more than 100 firms registered with the Roc (Registrar of Companies) for businesses across sectors including real estate, automobile, education and entertainment.
Most of these companies are registered with the starting name as ‘Saradha’ while the group also has firms having different names.
Authorities are already looking into alleged ponzi or multi-level marketing schemes run by at least 10 Saradha entities.
There are over 110 companies of Kolkata-based Saradha group under the same name and most of them have their registered address at Diamond Harbour Road in Kolkata, according to an analysis of data available with Corporate Affairs Ministry.
Saradha group is alleged to have duped thousands of investors, including poor people, through a multi — crore chit fund scam.
Majority of the group’s firms are into real estate. These include Saradha Build-Dev, Saradha Realty India, Saradha Infra Properties, Saradha Township, Saradha Villa and Saradha Housing.
The group also has registered companies related to education, exports, automobiles, shopping mall, ago development, tour and travels, among others.
Other group companies include Saradha Education Enterprises, Saradha Exports, Saradha Automobiles India, Saradha Tours and Travels, Saradha Biogas Production and Saradha Printing & Publication.
Amid growing controversy over duping of investors’ money by Saradha group, the Corporate Affairs Ministry today decided to order a probe into the issue.
Meanwhile, market regulator SEBI is probing the fund-raising activities of Kolkata-based Saradha group.
Besides, the Income tax Department would investigate investments and finances of Saradha group and the department is already probing five other similar cases in West Bengal.
On Tuesday, market regulator SEBI had ordered Saradha Realty India to close all its collective schemes and refund the money collected from investors within three months.
The group’s chief Sudipta Sen has been brought to Kolkata after being arrested in Kashmir Valley two days ago.
The West Bengal government has announced Rs 500 crore relief fund for duped investors.
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