WB govt to take strict action against defaulting chit fund

With protests by investors spreading across West Bengal over 'chit fund' company Saradha Group defaulting on payments, a West Bengal minister today said that strict action would be taken against the defaulters.
"The strictest action will be taken against defaulters as per our chief minister's instruction," Transport minister and senior Trinamool Congress leader Madan Mitra said.
Mitra said that Chief Minister Mamata Banerjee was in favour of action ensuring that there were no loopholes in the application of the law.
The state government's version came following protests statewide against the group.
The chief minister had earlier ordered the arrest of the group's CMD Sudipta Sen.

Eleven persons were arrested for demonstrating before the chief minister's residence at Kalighat last night demanding the arrest of Sen.

The state government received flak from the opposition CPI(M)and Congress, for being 'close to the chit fund authorities' and not taking any action to regulate their operations.
Meanwhile, a report from Burdwan district said that a 33-year-old agent of the group, Jadav Majhi, was found hanging from a room where he stayed at Mayabazar in Durgapur town.
The police said that it was a case of unnatural death.