Chit fund scandal a serious issue: Digvijay Singh

Congress leader Digvijay Singh today described the chit fund scandal in West Bengal as a matter of serious concern and said the state government cannot absolve its responsibility in the matter.
"It's a matter of serious concern. Lakhs of people are on the verge of losing their lifetime's earning. The primary duty is now to save the investors," Singh told reporters here.
Replying to the state government's charge of the Centre's inaction on the issue, Singh said the state government cannot shirk its responsibility.
"Only the registration of the company was done under the jurisdiction of the Centre. The state government also had a role. Registration was done on the basis of clearance by the state government," Singh pointed out.

"This is not a company (Saradha Group) which started during the tenure of Trinamool Congress. It was there during the Left Front tenure also. ... Lets not do politics over it. Act to ensure that people get justice and those who have cheated get punished," Singh said.
"I don't know what law the Left Front had made. If it had made any law, it should say it clearly what law did it make. If it (LF govt) had a will to take action, then they could have taken action," Singh said.
Stating that the Centre had already acted against the operation of such companies, Singh said Union Corporate Affairs Minister Sachin Pilot had already initiated some steps to prevent money laundering through regulations.

"There are a number of cases where a company had been registered in fake names. Kolkata and surrounding places have become a centre for money laundering. It has to be ensured that the records of each and every such companies registered are verified," he said.