AGARTALA, Feb 14 (TIWN): Aiming to dig out the hidden truth behind the chit fund scam, CBI has formed a special investigation team.

Reportedly in the chit fund scam investors in Tripura, West Bengal, Odisha and Assam were allegedly duped of crores of money it is expected that the team will now dig out some hidden facts behind the scam. Allegedly so far no action is taken to dig into the issue.

It is worthy to mention here that the government turned their back towards the depositors who lost everything following chit fund scam. The issue is being totally ignored. The chit fund companies who started their business by having a secret understanding with the administration fled away with their entire business. They are beyond trace now, hence, placing the depositors in jeopardy.

Similar role was played by Rose Valley. In most of the cases, Rose Valley is not giving back the investors their deposited amount. Every time the depositors knock the door and have to come back home disappointed.

CID and CBI were handed over the case, but, the problem is that the fled away companies remain beyond trace. Though, letters were sent to old addresses, but, no response. Furthermore, though CBI had taken a few cases, but, proper investigation is yet to start.

It is to be mentioned here that earlier, two persons Rose Valley Director Ashok Saha and Branch Manager Anupam Bhattacharjee were also arrested for collecting money without any valid permission from RBI or SEBI.

In 2014, when again CBI was requested to take up the remaining 32 cases, there too was no mention of the estimated amount cheated by the companies.
“It was a calculated move of the ruling left front government because name of many CPI-M leaders are involved in NBFC deals. Moreover, in case of Rose Valley, Sarada Group of Finance and Waris Group of Industries Chief Minister Manik Sarkar himself was involved in the promotion of them in Tripura.

According to official figures, the Rose Valley had collected Rs 196 crore during the past three years, out of which an amount of Rs 86 crore has been returned on maturity. The Rose Valley authorities could not give any explanation where the remaining money is.

India's market regulator, Securities and Exchange Board of India (SEBI), had earlier banned the Kolkata-based Rose Valley and several other non-banking financial companies (NBFCs) from accepting deposits from the public.