Hello friends welcome to Sonu live ,in this article I’m going to tell you about SARADHA AND ROSE VALLEY CHIT FUND AND EXPLAIN ABOUT SARADHA AND ROSE VALLEY CHIT FUND SCAM WITH CURRENT DATA IN WEST BENGAL
The Saradha and Rose Valley chit fund scams remain two of the most significant financial frauds in West Bengal’s history, impacting countless individuals and leaving a lasting mark on the state’s economy and politics. Here’s a breakdown of the current situation with data as of January 12, 2024:
Saradha Scam:
- Estimated amount involved: Rs. 60,000 crore (according to some reports, though official figures might vary)
- Modus operandi: The Saradha Group, under the leadership of Sudipta Sen, lured investors with promises of high returns through media ventures like newspapers and channels. However, these ventures were largely fictitious, and the funds collected were misused.
- Current status:
- The Supreme Court has appointed a committee to oversee the disbursement of recovered funds to investors.
- As of February 2023, only Rs. 216 crore has been distributed to a fraction of the affected individuals.
- Sudipta Sen is currently lodged in jail, and trials against other accused are ongoing.
- The scam continues to be a political flashpoint, with allegations of involvement against some TMC leaders.
Rose Valley Scam:
- Estimated amount involved: Rs. 17,520 crore (ED estimate)
- Modus operandi: Similar to Saradha, Rose Valley Group attracted investors with promises of high returns through land development projects and tourism schemes. However, these projects remained incomplete, and the money was diverting.
- Current status:
- The Enforcement Directorate (ED) is investigating the case and has recently seized assets worth Rs. 1 crore.
- The CBI is also involving in the investigation and has interrogated prominent figures.
- The company’s founder, Gautam Kundu, is absconding, and a red corner notice has been issued against him.
- The scam has also cast a shadow on the state’s real estate sector.
Overall impact:
The Saradha and Rose Valley scams have eroded public trust in financial institutions and caused significant financial hardship for lakhs of investors, many of whom were middle-class individuals. The scams have also contributed to negative perceptions of West Bengal’s business environment.
Additional points:
- The scams continue to be a politically charged issue, with the opposition parties targeting the TMC government for alleged inaction and complicity.
- Civil society groups and affected investors are actively campaigning for justice and swift disbursement of recovered funds.
- The scams highlight the need for tighter regulations and stricter monitoring of chit fund activities.
Please note:
This information is based on publicly available data and news reports. For the most up-to-date information, I recommend checking credible news sources or official websites of investigative agencies like the CBI and ED.
I hope this explanation helps! Let me know if you have any further questions.
READ MORE-https://sonulive.in/financial-scam-happening-in-many-states-of-india/#google_vignette