India News | Press Trust of India | Monday August 24, 2015
CBI has registered five more cases in connection with the chit fund scam in Assam arising out of alleged financial bunglings by West Bengal-based Saradha group of companies.
India News | Press Trust of India | Friday April 3, 2015
Arrested Rose Valley group chairman Gautam Kundu was among the six people named in the charge sheet filed by the Enforcement Directorate in the Rose Valley ponzi scam on Thursday.
India News | Press Trust of India | Thursday March 26, 2015
Rose Valley group of companies chairman Gautam Kundu was today arrested by Enforcement Directorate (ED) in connection with its probe in the ponzi scam allegedly perpetrated by these consortium of companies.
India News | Wednesday March 4, 2015
Trinamool Congress MP Tapas Pal's residence in Kolkata is one of the 43 premises being raided by the Central Bureau of Investigation or CBI in a nation-wide operation today.
Friday May 17, 2013
But Saradha went bust in April, wiping out as much as $3.7 billion in deposits from mostly low-income Indians, miring West Bengal's government in scandal, and illustrating the risks faced by the millions who live outside the banking system.
India News | Reported by Alok Pandey; Edited by Sindhu Manjesh | Wednesday May 1, 2013
The Saradha Group that collapsed last month controlled many television channels and newspapers in West Bengal. So do some other companies that have been accused of running Saradha-like get-rich-quick schemes.
India News | Reported by Alok Pandey; Edited by Abhinav Bhatt | Saturday April 27, 2013
The Saradha Group collapse, which wiped out the savings of lakhs of people, has forced a reality check among small investors in rural Bengal who have invested in other schemes that promised big returns.
India News | Edited by Janaki Fernandes | Thursday April 25, 2013
West Bengal woke up today to prominent ads in newspapers put out by a company called Rose Valley, appealing to its investors not to panic in the wake of the collapse of the Saradha group's chit fund, which has wiped out the savings of lakhs of small depositors in the state.
India News | Edited by Sindhu Manjesh | Wednesday April 24, 2013
The Saradha chit fund disaster could just be the tip of the iceberg. Market regulator Securities and Exchange Board of India or SEBI is investigating at least five other such companies in West Bengal for alleged fraud, including Rose Valley, a group that has raised Rs 4000 crore and a collapse of which will lead to a bigger crisis than the Saradha ...