Saturday 20 April 2013

Trinamool used the chit fund for political interests:CPM

Kolkata The Communist Party of India –Marxist (CPI-M) Saturday alleged that the ruling Trinamool Congress used the chit fund companies politically.

“They have used this chit fund for political interests, to come into power and to remain there,” said leader of opposition Surjya Kant Mishra.

He also accused that the ruling party had used the print and electronic media under the chit fund company Saradha Group for its publicity and have helped as well as received help from them.

Saradha Group is one of the largest chit fund companies in eastern India. It has also diversified into construction, realty, tourism, hospitality, agri-businesses and media.

As capital market regulator SEBI started taking actios against chit fund companies for flouting rules, which raised concerns over safety of public money, pressure on the group's finances mounted.

Crisis in the group was brewing since January, which forced it to recently wind up at least 10 media organisations - newspapers and television channels - that it had launched or acquired since 2010. Over 1,000 journalists and non-journalists have been rendered jobless.

The agents of the company Saturday protested in front of Trinamool Congress head office , as the customers were looking for them. There have been incidents of clashes between the agents and customers.

The agents had Friday protested in front of chief minister Mamata Banerjee’s residence.

Many of them have been forced to leave their homes to be safe from the wrath of the customers. Group’s offices were attacked across the state.

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