Protests against chit-fund muddle continue in Bengal

Kolkata, April 25 (IANS) Protests against chit-fund companies for duping investors continued in West Bengal as irate depositors as well as agents Thursday staged demonstrations and road blockades in the metropolis and South 24 Parganas district.

Hundreds of depositors staged demonstration in the city's Tollygunge area when they saw that a branch office of a company, in which they had put money lured by the promise of high interest rates, was closed down.

The people then vented their anger by staging a demonstration, demanding their money back.

In another incident, a large number of chit-fund agents staged a road blockade for some time in the city arterial Hazra area to protesting against the chit-fund mess in the state.

Angry depositors hit the streets and attacked offices of a chit-fund firm at Canning in the neighbouring South 24 Parganas district.

Many agents and depositors also staged demonstration at Alipore area in south Kolkata when Saradha Group kingpin Sudipta Sen was brought before a city court.

"We just want our money back. He (Sen) should not be spared until and unless we get back our entire money," said a protestor.

Sen, the chairman and managing director of the chit fund-funded Saradha Group, was arrested from Sonmarg in Jammu and Kashmir Tuesday with two of his associates.

The group went bust and its offices downed shutters unable to repay the depositors who had parked their hard-earned money lured by astronomically high interest rates promised by the company.