CBI registers 47th case in Saradha chit fund scam

New Delhi : The CBI Thursday registered a 47th case in connection with its probe in the Rs.10,000 crore Saradha chit fund scam naming Trinamool Congress’s sitting Rajya Sabha M.P. Kunal Ghosh as one of the accused.

The Central Bureau of Investigation (CBI) registered the case against a Bhubaneshwar-based private firm and others in the case on the direction of the Supreme Court.

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The firm is one of the 44 companies mentioned in the May 9 order of the apex court on a civil writ petition filed in 2013.

The agency had earlier registered 46 cases, including three in West Bengal and 43 in Odisha in the alleged chit fund scam.

CBI sources said role of regulatory bodies like Securities Exchange Board of India (SEBI), RBI and the ministry of corporate affairs will be examined as per the orders of the Supreme Court which had directed the agency to probe the case.

The agency has registered the cases for alleged criminal breach of trust, cheating and criminal conspiracy among others.

In 46 FIRs registered in Odisha, CBI has accused Pradeep Sethi, MD of Arthsatwa group and Prashant Das of Sea Shore group besides MDs and other officials of Rose Valley micro finance, Saradha Group, Astha International among others, CBI sources said.

“In Orissa, CBI has registered 43 cases against 43 companies and the then MDs; then directors and others on allegations of cheating, criminal breach of trust, conspiracy etc. Scrutiny of more documents is being carried out for future course of action,” said a CBI official.

The Supreme court had last month handed over the Saradha chit fund scam to CBI and asked the state governments to provide all logistical help to the CBI team probing the matter.

The CBI has formed a Special Investigating Team (SIT) headed by Joint Director Rajeev Singh to also probe the role of the SEBI and RBI.

“Investigation conducted so far puts a question mark on the role of regulatory authorities like SEBI, registrar of companies and officials of RBI within whose respective jurisdictions and areas of operation the scam not only took birth but flourished unhindered,” an apex court bench headed by Justice T. S. Thakur had said in its order.

CBI Special Director Anil Kumar Sinha has been asked to monitor the progress in the probe and exercise administrative control under the overall supervision of the CBI director.