CPI(M) demands CBI probe into Saradha chit fund scam

CPI(M) today accused the UPA government of not taking any action on the Saradha chit fund scam in West Bengal and demanded a CBI probe into the scandal, saying it had ruined the lives of lakhs of people, mostly from the economically weaker sections.

Maintaining that the property of Saradha was not being confiscated to compensate the victims despite SEBI orders, party leader Sitaram Yechury said, "More time is being given to this company to siphon off its assets and relocate them."

Asked whether the UPA government was not taking any action because of political reasons, he said, "It is for them (UPA) to answer. But they are not working on it" even after the Left parties met the Prime Minister and the Finance Minister and submitted detailed memoranda on the issue on a number of occasions.

Observing that governments in Tripura and Odisha have also sought CBI probe, Yechury said it was not necessary to await West Bengal government's reference. "CBI can be asked by the courts to take up the issue for investigation or it can take it up suo motu as well. So, West Bengal's reference on the matter is not sacrosanct."

The CPI(M) has also submitted an adjournment motion to seek a debate on the "fraudulent activities" of non-banking companies like Saradha Group in both Houses of Parliament, Yechury and his senior colleague Basudeb Acharia said.

The Left parties today staged a protest sit-in inside the Parliament House complex to focus on the matter and were joined by SP chief Mulayam Singh Yadav, they said.

Apart from the chit fund scam, the CPI(M) has also sought discussion on price rise, the 2G spectrum scandal and the JPC report on the issue, agrarian crisis and farmers' suicide, rising unemployment and snooping case in Gujarat.