HC reserves verdict on PILs seeking CBI probe in chitfund scam

Hearing on the PILs seeking a CBI probe into the chitfund scam in West Bengal concluded today with the Calcutta High Court reserving its verdict.
A division bench comprising Justice A K Banerjee and Justice M K Chaudhuri heard the submissions of the petitioners on suggestions given by the amicus curae appointed by it in conclusion of the arguments.
Counsel Bikash Bhattacharjee submitted that the magnitude and ramification of the scam called for investigation to find those who were behind it apart from the Saradha Group chief Sudipta Sen, who is in custody along with two of his company officials.

Stating that the scam was spread over several states and also abroad, the counsel said an investigation by CBI or any other central investigating agency was called for.
The amicus curae Laxshmi Gupta in the PILs had yesterday told the division bench that there was no need for a CBI probe at this stage and that the state investigation agency be allowed to continue its investigations.
Gupta had said that the petitions might not be disposed off so that if anyone was aggrieved at any stage, could come before the bench.
He had also said that the terms of reference of the Justice (retd) Shyamal Sen Commission set up by the West Bengal government be increased to facilitate refund of money to investors of the Saradha Group, which is alleged to have swindled laks of depositors.

He had said that there was no requirement for formation of a new committee for the purpose.