• search
For Kolkata Updates
Allow Notification  

CBI to form SIT to probe Rs 10,000 cr Saradha chit fund scam

By PTI
|

CBI logo
New Delhi, May 11: The CBI will form a Special Investigation Team (SIT) soon to probe the Saradha chit fund scam in which investors in West Bengal, Odisha and Assam were allegedly duped of Rs 10,000 crore besides examining the role of market regulators like SEBI and RBI.

"We will form the SIT as soon as the legalities in the case are finalised," CBI Director Ranjit Sinha said here today. Official sources said the SIT is expected to be formed soon.

The Supreme Court ordered a CBI probe on Friday on a PIL and asked the three state police forces to cooperate with the CBI investigation.

The CBI will also look into the role of regulators like SEBI, authorities under the Companies Act and the Reserve Bank of India(RBI) as directed by the apex court.

The court in its order had pointed out that there was yet another aspect which relates to the role of the regulatory authorities.

"Investigation conducted so far puts a question mark on the role of regulatory authorities like SEBI, Registrar of Companies and officials of the RBI within whose respective jurisdictions and areas of operation the scam not only took birth but flourished unhindered," a bench headed by Justice T S Thakur said in its order.

PTI

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more