Chit Fund

The Supreme Court said Kumar will appear before the Central Bureau of Investigation in the Meghalaya capital Shillong. The court also said no coercive steps, including the arrest of the Kolkata police chief, will take place during the course of the investigation.

Parliamentary panel suggests insurance coverage for chit fund subscribers

In its report tabled in Parliament today, the panel said it has been submitted to the Committee that there should be provision for insurance coverage for the subscribers/ members, the cost of which will be borne by the chit fund company.

What changed for the market while you were sleeping? 15 things you should know

A look at top cues from the domestic and international markets that could have a bearing on D-Street today.

SFIO probes 24 companies for fraudulent schemes in FY'17

As many as 24 companies have been referred to the Serious Fraud Investigation Office (SFIO) for allegedly running illegal money raising schemes in the current fiscal, the government said today.

SEBI says Pearl Agrotech siphoned off funds, seeks CBI probe

The Supreme Court issued a issued a notice to Pearl Agrotech, barring it from selling or disposing of any of its assets.

Chit fund scams: Rs 80,000 crore and counting

Agency sources said the amount is likely to be higher than the initial estimate as the probe is still on. These companies with operations across the country lured people by offering attractive interest rates and, in the case of Pearls Group, land.

Is chit fund a risky investment?

In an interview to CNBC-TV18, Harsh Roongta, apnapaisa.com spoke about chit fund.

SFIO submits interim report on Saradha chit fund scam

The financial fraud investigative agency is also trying to get details stored by these entities on computer servers located abroad, the Corporate Affairs Ministry said today while releasing excerpts of the interim report on SFIO probe.

Save yourself from fraudulent Chit Fund Investments

BankBazaar.com explains investors how to work around fraudulent transactions in Chit Fund investments

Govt cracksdown on chit funds; proposes ban for MLM cos

CNBC-TV18‘s Siddharth Zarabi reports that the multi-level marketing companies will be banned by the government. The proposal has been mooted by the department of financial services and is likely to be fast tracked considering the seriousness of the chit fund scam

New bench to hear PIL seeking CBI probe into chit fund scam

The hearing of the PILs seeking a CBI probe into the multi-crore chit fund scam will be heard by a new bench of the Calcutta High Court as the Chief Justice has released the matter from his bench.

Saradha chitfund: Sudipta Sen sent to 14-day police remand

Sudipta Sen, the main accused in the multi-crore Saradha chit fund scam, and his two other accomplices were today remanded in 14-day police custody by a court , even as police claimed that the company's director Debjani Mukherjee played a key role in decision-making.

FM's wife was lawyer for deal with Saradha group: Sources

Finance Minister P Chidambaram's wife Nalini Chidambaram was engaged as a senior advocate to appear on behalf of Manoranjana Sinh and her husband and a Narasimha Rao government minister Matang Sinh in a company petition filed by her before the company law board against M/4 Positive TV Ltd, sources close to the Union Minister's wife have said.

TMC MP denies Saradha CMD's 'blackmail' claims

The Trinamool Congress is on the defensive even after the West Bengal chit fund scam kingpin and Saradha Group CMD, Sudipta Sen, claimed he was blackmailed by the party's leaders.

Sebi orders Saradha Realty to close schemes, refund money

Market regulator Sebi today ordered Kolkata-based Saradha Realty India to close all its collective schemes and refund the money collected from investors within three months, amid continuing protests against the alleged fraudulent activities of the group.

Chit fund scam: Police seize Saradha Grp promoter's assets

The properties of West Bengal chit fund scam accused, Saradha group promoter Sudipta Sen have been seized, the state police said on Tuesday. Arnab Ghosh, ADC, Detective Department, told reporters that the West Bengal Police had kept a track on Sen's movements since the case came to light.

Informal lending stymies India's inflation fight

Sudhir Kakkar, a business executive in a New Delhi publishing firm, recently needed to borrow money to furnish his house after getting married. Instead of approaching commercial banks for his loan, however, Kakkar joined a "chit fund" group.