Mamata Banerjee demands Centre pay back defrauded depositors

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Mamata Banerjee demands Centre pay back defrauded depositors

Friday, April 26, 2013

West Bengal Chief Minister Mamata Banerjee said that
Rs500 crore would be demanded from the Centre to pay back
defrauded investors of Saradha Group as SEBI and RBI
failed in their duty to check such companies.

West Bengal Chief Minister Mamata Banerjee today said
that Rs500 crore would be demanded from the Centre to pay
back defrauded investors of Saradha Group as SEBI and RBI
failed in their duty to check such companies.

"A storm has come because of the deeds of the earlier
(Left Front) government and casual approach of the
Centre. The SEBI and RBI also did not do their duties.
They are talking big," the chief minister said.

"Thus the Centre should also take the responsibility of
paying back the investors. We shall demand Rs500 crore
from the Centre for the purpose," Banerjee, who has
announced a Rs 500 crore relief fund for defrauded
investors, said.

She also vowed not to rest till money was repaid to the
thousands defrauded allegedly by the Saradha Group and
said that a new law was being brought to protect the
interests of investors.

"I am happy that a new law is coming. However, I will not
be happy till we are able to return the money to
investors," Banerjee said, adding that many poor people
had invested in the Saradha Group.

Referring to the new bill which provided for seizure and
attachment of properties of scamsters, she said that
"Panic should not be created. I have always been with the
common people and will always remain with them."
Referring to the other chitfund scams during the Left
Front regime including Sanchaita and Verona, she said "If
there were proper laws then the people would not have
been cheated."

Continues at:

http://www.dnaindia.com/india/1827475/report-mamata-banerjee-demands-centre-pay-back-defrauded-depositors

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Om Shanti

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