CBI arrests Tapas Pal, TMC calls it 'vendetta politics'

Terming the Central Bureau of Investigation's (CBI) action against actor-turned-MP Tapas Pal for his alleged involvement in the Rose Valley chit fund scam, as an act of "political vendetta", Trinamool Congress (TMC) leader Derek O' Brien promised a political fight against this 'dirty trick' of the BJP.

"We are against demonetisation and so we are doing this. This is the dirty trick of the BJP but doesn't matter we will fight it. We have always fought it and we will fight it again," he told ANI on Saturday.

"He did a contract with 'Rose Valley' like he does with film actors, sportspersons and the film industry. A BJP member also has an association with Rose Valley. So, when will he be arrested? This is pure political vendetta," he added.

Pal, a senior Trinamool Congress leader has been arrested in Kolkata in what is being referred to as the "Rose Valley chit fund scam", in which thousands of small investors were allegedly cheated.

Directly linking the arrest to her party's aggressive opposition to Prime Minister Narendra Modi's demonetisation drive, Chief Minister Banerjee said: "Modi Babu, how many MPs and MLAs (lawmakers) do you want to arrest? They will stand in queue."

Pal, 58, was questioned for hours by the CBI before his arrest. His house was also raided.

He was a director in two companies of Rose Valley, a leisure and entertainment group, that has been accused of illegally accumulating Rs.17,000 crores in small savings through a Ponzi scheme. The group has been under investigation for almost two years.