CBI searches premises of Maharashtra-based media baron

In one of the biggest search operations in chit fund scams, CBI today raided 58 locations in Maharashtra and Odisha including premises of a Maharashtra- based media baron.
The searches were conducted on the basis of two cases registered by the CBI to probe chit fund scam.
The official and residential premises of six persons including promoter of Pune-based Samruddha Jeevan group Mahesh Motewar were also searched, CBI said.
The group owns Hindi news channel Live India and Marathi news channel 'Mi Marathi' were searched during the operation today.
Senior officials of the Live India as well as the regional channel did not give reaction to the searches when they were called for a reaction.

The allegations against the group is that it was allegedly involved in money pooling activities without the required permissions from Reserve Bank of India and Securities and Exchange Board of India, they said.

The searches were conducted at 58 locations including Pune, Nasik, Aurgangabad and Solapur.
It is one of the biggest searches in chit fund scams. At least 250 CBI officers were involved in the operations, the sources said.
CBI has registered 76 cases related to probe of chit fund scams in West Bengal, Odisha, Assam and Tripura involving an estimated Rs 30,000 crore, they said.