HC asks amicus curae to give its view on chitfund scam

Calcutta High Court today asked the amicus curae in the PILs seeking CBI investigation into the chitfund scam to give its view on whether reasonable time has been given to the state investigating agency to probe the multicrore scam affecting thousands of investors, mainly of the Saradha Group.
Requesting amicus curae Laxmi Gupta to look into three points that have come up during the hearing of the PILs, a division bench comprising Justice A K Banerjee and Justice M K Chaudhuri asked him to examine that when a crime is committed, the state be given reasonable time for investigation.
Noting that the alleged crime was reported on April 16 and the PILs seeking a CBI probe were filed on April 22 and claiming that the state agency would not be able to hold an impartial investigation, the bench asked Gupta to examine the time gap and that the state should be given adequate time.

The other point that the amicus curae, who was appointed by the court to assist it, was asked to come up with his views on was that though the magnitude of the problem was huge, no one could deny that law and order is a state subject and as such whether the state would investigate the issue.
The third point was whether a committee consisting experts from different fields to go through all aspects including return of investors' money be formed.
The bench requested the amicus curae to inform the court of his views tomorrow, when the matter would be taken up for hearing again.

Earlier, submitting for the state, government pleader Ashok Banerjee opposed the prayers for CBI investigation into the chitfund scam claiming that the state investigating agencies were doing a commendable job.