Business Standard

SC refuses court monitoring of Saradha chit fund scam probe

IANS  |  New Delhi 

The on Monday rejected a plea by a group of investors for court monitoring of the probe into the Rs 10,000-crore Saradha chit fund scam by the and the

"We are not inclined to pass any order," said the bench headed by as appearing for a group of investors cited allegations of destruction of evidence and delay in the completion of the probe, which has been on since 2013.

The Rs 10,000-crore scam refers to money collected by the West Bengal-based through Ponzi investment schemes from 25 lakh depositors not just in the state, but also from neighbouring Odisha, Assam, and

On February 5, the top court had directed to cooperate with the in the investigation, which is taking place in Shillong.

had headed the SIT constituted by the Mamata Banerjee government, which investigated the Saradha scam case for a year.

Monday was the third day of his questioning by the

Given the inter-state nature of the alleged scam, the top court had on May 9, 2014 handed over to the CBI the investigation into all its cases.

Pointing to the quantum of money and its inter-state ramifications, the court had on May 9, 2014 said, "The possibility that such huge collections could have international money laundering dimensions cannot be ruled out and needs to be effectively investigated."

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 11 2019. 18:00 IST
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