EOW breaks open Saradha offices

The Economic Offences Wing (EOW) of the Crime Branch, Orissa, on Friday began probe into the alleged financial fraud committed by the West Bengal-based Saradha Group in the state.

A team of Crime Branch officials broke open the locked offices of the company at Balasore, nearly 200 km from here in north Orissa, and seized a number of computers, piles of records relating to various businesses of the group; air-conditioners and other electronic equipment.
Balasore was Saradha Group’s hub of activities in Orissa, although it had got two other major centres at Sambalpur and Puri.
Sources said Saradha Group collected over `15 crore from Balasore alone. In Sambalpur and Balasore, the company has bought huge patches of land for its real estate businesses.
What has generated much curiosity about Saradha Group’s presence in the state and its subsequent duping of local investors is its link with an “influential” leader. In his controversial letter to the CBI, Sudipta Sen, the arrested chairman of the company, has said the “influential” Orissa politicians has taken `3 crore him to extend political patronage. He, however, has not mentioned the name of the politician.
The seizure of computers and other records might lead to the Crime Branch to the “mysterious” politician, hoped a senior police officer. The CB has registered cases on the basis of complaints filed by hundreds of investors in different parts of the state.
Sources in the Crime Branch said plans were already afoot to bring Sudipta Sen and Debjani Mukherjee, the director of the company, to the state on transit remand for interrogation.
Saradha had collected crores of rupees from investors, promising them handsome returns in quick time. Like in West Bengal, the company had collected funds through local agents.

Post new comment

<form action="/comment/reply/231628" accept-charset="UTF-8" method="post" id="comment-form"> <div><div class="form-item" id="edit-name-wrapper"> <label for="edit-name">Your name: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="60" name="name" id="edit-name" size="30" value="Reader" class="form-text required" /> </div> <div class="form-item" id="edit-mail-wrapper"> <label for="edit-mail">E-Mail Address: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="64" name="mail" id="edit-mail" size="30" value="" class="form-text required" /> <div class="description">The content of this field is kept private and will not be shown publicly.</div> </div> <div class="form-item" id="edit-comment-wrapper"> <label for="edit-comment">Comment: <span class="form-required" title="This field is required.">*</span></label> <textarea cols="60" rows="15" name="comment" id="edit-comment" class="form-textarea resizable required"></textarea> </div> <fieldset class=" collapsible collapsed"><legend>Input format</legend><div class="form-item" id="edit-format-1-wrapper"> <label class="option" for="edit-format-1"><input type="radio" id="edit-format-1" name="format" value="1" class="form-radio" /> Filtered HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Allowed HTML tags: &lt;a&gt; &lt;em&gt; &lt;strong&gt; &lt;cite&gt; &lt;code&gt; &lt;ul&gt; &lt;ol&gt; &lt;li&gt; &lt;dl&gt; &lt;dt&gt; &lt;dd&gt;</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> <div class="form-item" id="edit-format-2-wrapper"> <label class="option" for="edit-format-2"><input type="radio" id="edit-format-2" name="format" value="2" checked="checked" class="form-radio" /> Full HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> </fieldset> <input type="hidden" name="form_build_id" id="form-a7970096048e7ebcaf19a970d86f9701" value="form-a7970096048e7ebcaf19a970d86f9701" /> <input type="hidden" name="form_id" id="edit-comment-form" value="comment_form" /> <fieldset class="captcha"><legend>CAPTCHA</legend><div class="description">This question is for testing whether you are a human visitor and to prevent automated spam submissions.</div><input type="hidden" name="captcha_sid" id="edit-captcha-sid" value="85441567" /> <input type="hidden" name="captcha_response" id="edit-captcha-response" value="NLPCaptcha" /> <div class="form-item"> <div id="nlpcaptcha_ajax_api_container"><script type="text/javascript"> var NLPOptions = {key:'c4823cf77a2526b0fba265e2af75c1b5'};</script><script type="text/javascript" src="http://call.nlpcaptcha.in/js/captcha.js" ></script></div> </div> </fieldset> <span class="btn-left"><span class="btn-right"><input type="submit" name="op" id="edit-submit" value="Save" class="form-submit" /></span></span> </div></form>

No Articles Found

No Articles Found

No Articles Found

I want to begin with a little story that was told to me by a leading executive at Aptech. He was exercising in a gym with a lot of younger people.

Shekhar Kapur’s Bandit Queen didn’t make the cut. Neither did Shaji Karun’s Piravi, which bagged 31 international awards.