The Enforcement Directorate seizes assets worth over Rs 35 crore in a chit fund case involving the Saradha group of companies on Tuesday. Vehicles, buildings, flats, and bungalows in Bishnupur, plots in South 24 Parganas, Nadia, Cooch Behar, and Jalpaiguri are among the attached properties in West Bengal.
According to the ED, the attached properties were either owned by the Saradha group or were purchased with proceeds of crime (Saradha Group having paid full advance to vendors). Until 2013, the Saradha group allegedly ran chit fund operations in West Bengal, Assam, and Orissa. The amount of money mobilised by the accused company totals over Rs 2,459 crore, of which Rs 1,983 crore has yet to be paid to depositors (excluding the interest amount).
In 2013, the ED filed a case against the Saradha group of companies based on FIRs registered by Kolkata Police. The Enforcement Directorate previously issued seven Provisional Attachment Orders (PAOs), all of which were confirmed by the Adjudicating Authority under the PMLA in New Delhi.
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