Saradha Scam

Capital markets regulator Sebi on Monday said it will auction 61 properties of Saradha Group on July 17 at a reserve price of over Rs 26 crore to recover money raised by the firm from the public through illicit schemes. The properties to go under the hammer include land parcels located in West Bengal, the Securities and Exchange Board of India (Sebi) said in a notice. The regulator said the e-auction will be conducted between 11 am and 1 pm on July 17. The total reserve price of these properties is pegged at Rs 26.22 crore. Sebi has engaged Quikr Realty to assist it in the sale of the properties and appointed C1 India as the e-auction provider. The development came after the Calcutta High Court passed an order in June 2022, whereby it directed Sebi to proceed with the auction of properties of the Saradha Group of Companies. The entire exercise was directed to be completed within three months. Saradha Group, a consortium of over 239 private companies, allegedly ran chit-fund operat

Markets regulator Sebi on Monday said it will auction 66 properties of Saradha Group on April 11 at a reserve price totalling Rs 32 crore to recover money raised by the firm from the public through illicit schemes. The properties to go under the hammer include land parcels located in West Bengal, the Securities and Exchange Board of India (Sebi) said in a notice. The regulator said that the e-auction will be conducted between 11 am and 1 pm on April 11, 2023. The total reserve price of these properties is pegged at about Rs 32 crore. Sebi has engaged Quikr Realty to assist it in sale of the properties and appointed C1 India as the e-auction provider. The development came after the Calcutta High Court passed an order in June 2022, whereby it directed Sebi to proceed with the auction of properties of Saradha Group of Companies. The entire exercise was directed to be completed within three months. Saradha Group, a consortium of over 239 private companies, allegedly ran chit fund ...

Markets regulator Sebi on Thursday said it has lined up three properties of Saradha Group of Companies for an auction on December 16, at a reserve price of Rs 5.21 crore. The move is part of Sebi's efforts to recover money raised by the company from the public through illicit schemes. In a notice, the Securities and Exchange Board of India (Sebi) said the auction will be conducted between 11 am to 12 pm on December 16, 2022. The properties to go under the hammer include land parcels located in West Bengal. The total reserve price of these properties is pegged at about Rs 5.21 crore and the regulator has appointed C1 India as the e-auction provider. Online registration and e-auction will be conducted through Quikr Realty. The Calcutta High Court had passed an order in June, whereby it directed Sebi to proceed with the auction of the properties of Saradha Group of Companies. The entire exercise was directed by the High Court to be completed within three months. Saradha Group of .

Here's a selection of Business Standard opinion pieces for the day

The CBI last week searched the residences of three officers of the Sebi in connection with the Saradha Ponzi scheme

Senior TMC leader and former West Bengal minister Madan Mitra on Friday deposed before Enforcement Directorate (ED) officials here in connection with the probe into Saradha chit fund scam

In a development which may further increase the political heat in West Bengal where Assembly polls are slated early next year

The ghost of the multi-crore Saradha ponzi scam is back to haunt the Mamata Banerjee-led Trinamool Congress in the state

A bench headed by Chief justice S A Bobde told Solicitor General Tushar Mehta that the agency has to convince the top court why custody of the former Kolkata Police Commissioner was needed in the case

The probe agency on Thursday also moved a city court seeking an arrest warrant against Rajeev Kumar in the Saradha ponzi scheme scam

The special court, in charge of trial of criminal cases against MPs and MLAs, said it is a trial court and cannot hear an anticipatory bail application

Rajeev Kumar's anticipatory bail application is likely to come up before a special CBI court

A CID official visited the CBI office in Salt Lake and submitted the letter, in which Kumar said he is on a three-day off and, therefore, unable to attend the summon

A team of the Central Bureau of Investigation (CBI) visited Kumar's official residence in Kolkata on Sunday evening to serve the notice

The agency wants custodial interrogation of Kumar, a 1989-batch IPS officer, in connection with Rs 2500 crore Saradha ponzi scam as he was heading the Special Investigation Team of West Bengal Police

Kumar was earlier granted protection from arrest by the apex court for seven days which ends today

The apex court had granted Rajeev Kumar seven days to approach the competent court for legal remedies but his counsel has now asked for an extension

The apex court had granted interim protection. Rajeev Kumar, the former police commissioner, now has seven days to approach court for legal remedy.

Telcos maintain 'full cooperation' with CBI on Saradha scam investigation

The court, which asked both sides to file their additional affidavits and complete pleadings by February 25, has posted the matter for hearing on February 27 before an appropriate bench