Court refuses CBI probe in Saradha Scam

Kolkata: The Calcutta High Court on Wednesday rejected the plea for the Central Bureau of Investigation (CBI) to investigate the multi-million rupee Saradha chit fund scam. Hearing the public interest litigation (PIL), a division bench of Justice A.K. Banerjee and Justice M K. Chaudhuri also did not dispose the case “in the interest of justice”, and passed some directions to the West Bengal police, which is presently investigating the scam, on the modus operandi of investigation.

Former Mayor of Kolkata, Bikash Bhattacharjee, who appeared as a Counsel, for one of the petitioners, had prayed for an investigation by a central agency considering the magnitude and ramification of the scam. Stating that the financial scam was spread over several states and also abroad, he said that an investigation by CBI or any other central investigating agency was called for. He also pointed out that the Saradha Group chief Sudipta Sen, who is in custody along with other accused since April 23, has named several leaders of the ruling Trinamool Congress and that a fair investigation may not be possible by the state police.

The division bench had appointed an amicus curae in the PILs, who had said that there was no need for a CBI probe at this stage and that the state investigation agency be allowed to continue its investigations.

Amicus curae Lakshmi Gupta, appointed by the court to assist it, said that the petitions might not be disposed off so that if anyone was aggrieved at any stage, could come before the bench. He also said that the terms of reference of the Justice (retd) Shyamal Sen Commission set up by the state government be increased to facilitate refund of money to investors of the Saradha Group.

However, the petitioner now may appeal to the Supreme Court for a CBI investigation since they have not much faith in the state police.