Rose Valley issues chits as suicides continue | Police raid offices of Prayag,Group MPS group

Rose Valley issues chits as suicides continue | Police raid offices of Prayag,Group  MPS group
DURGAPUR/MURSHIDABAD/CHINSURAH, 2 MAY: West Bengal's fast emerging multi-business conglomerate, Rose Valley, after being denied any further financial assistance by Axis Bank,  started issuing ‘chit’s today, delaying refund to depositors for another three months. Meanwhile, three persons, defrauded by different chit-fund companies, committed suicide within a span of one week in Murshidabad, while another investor was denied refund by Aries Investment company in Chinsurah, where five mediapersons were assaulted when they went there to take the sound-bite of an investor of Gold Mine Agro.
Axis Bank’s Airport branch in Kolkata, its nodal office for chit fund related businesses, had cautioned Rose Valley authorities to look for alternative arrangements as it was not interested for any financial transaction with the company beyond 30 April. Despite this, the company continued offering Axis Bank cheques to some depositors who thronged the company’s City Centre and Benachitty branches in Durgapur today.
Most depositors, however, were issued chits bearing the official seal of the company, which stated August 2013 as the date of payment. Mr Abhijit Majumdar, Rose Valley branch manager at City Centre, said: “We have issued nearly 6,500 number of such slips to the depositors against submission of the photo copies of their respective premature policy papers.” He added: “Axis Bank had warned us not to issue any cheque bearing dates beyond 30 April. Accordingly our Midnapore regional office ordered us to issue such slips to help identification of depositors, who would be disbursed their deducted sums.”
Axis Bank has assured to entertain clearance of the cheques till 30 June, Rose Valley officials said. The company has been trying to rope in Bank of India to wriggle out of the crisis.
A political controversy, meanwhile, was triggered off in Durgapur today after the Trinamul Congress brought out a photograph in which veteran CPI-M leader and former Rajyasabha MP, Mr Jibon Roy, was seen receiving a cheque worth Rs1.10 lakh from Mr Partha Chakraborty, MD, Chakra Group, another chit fund. The cheque was handed over to Mr Roy, who is the head of Durgapur Children’s Academy & Culture, an NGO set up on 2 August, 2008.  
Mr Parimal Agasty, ward committee secretary of the Trinamul Congress in City Centre area, alleged: “The CPI-M has been talking about its so called distance from the chit fund scam, but we have got evidence that a bunch of leaders like Mr Roy were hand-in-glove with such companies.”  
Mr Roy said: “Many corporate offices have come forward to sponsor the Academy, which is meant for children’s welfare and I don’t think that anyone of the Academy individually drew benefits.”  
At the City Centre Police Investigation Centre, a group of aggrieved depositors from villages in Bankura today lodged a complaint against Greenfield Multi Developer, which allegedly had cheated them of Rs 12 crore.  
In a related development, a farmer, Nabin Mahato (40),  was found dead on the railway track near Azimganj junction of Howrah Division yesterday. Mahato was a depositor with Saradha Group, said his wife, Mrs Sumitra Mahato.
She said: “He was glued to TV channels for hours and assured me that Chief Minister Mamata Banerjee would pay us back. But I could not guess that depression went so deep in his mind.” Mahato's body was recovered by GRP and sent for autopsy.
Another suicide of a housewife, Pratima Das (36) was reported yesterday from the district. Das from the Tenya area under the jurisdiction of Salar police station was an agent of two chit-fund concerns ~ ATM group of Companies and Burdwan Sunmarg, her family members said. Unable to take stress of being harassed and verbally abused by depositors, she preferred to hang herself at her home, her family members said. They also informed that depositors apprehending loss of money raided her residence a number of times demanding immediate refund of deposits.
Police reported unnatural death of one Santosh Gupta who used to work at Farakka-based office of a chit-fund group, Rose-Valley. Gupta's body was found from the railway track near New Farakka station. It might be a case of murder or suicide but it is likely to be related to chit-fund mess, police said.
One Prabodh Sinha, reportedly a depositor with Saradha Group, hanged himself at his residence at Farakka last week. Sinha (43) served as a tax collector of Bahadurpur panchayat at Farakka. 
Prior to suicide, Sinha admitted that he could not get back his sum, that matured, a few months ago, despite repeated requests to the chit-fund officials. In a related incident, Mr Rabin Mallick, a resident of Piyara Bagan Kadamtala, Chinsurah was denied refund from his his four fixed deposits, over a period of five years, by Aries Investment company at Taldanga in Chinsurah.
Mr Mallick, who is in dire need of money, had one of his fixed deposits in the name of his mother, Basanti Mallick, who is a senior citizen.  
Mr Mallick, had to wait for three hours before was turned back with a refusal of the refund.
Mr Mallick reported the incident to police but did not lodge a written complaint. Mr Mallick, however, handed a copy of his complaint against Aries chit fund to the media persons.
Mr Prabir Sarkar, a resident of the Keota area in Bandel and an employee of Aries Chit Fund, was, however, a little lucky as he was granted a refund, with 30% deduction. Protesting against this, Mr Sarkar stages a hunger strike at the main gate of the chit fund office. The company, in bid to prevent a mass protest, later handed over total refund amount.  
Five reporters, were, meanwhile, assaulted by employees of Gold Mine Agro chit fund company, when the former tried to reach, Tripti Bhadra, an investor, kept confined in an office room of the company, for comments.
The employees attacked the media persons, snatched their cameras and beat them up. Police later rescued them.The accused who were arrested were soon released on bail. The assaulted media persons demanded strict punishment. Police super, Mr Tanmay Rai Chaudhari ordered a probe. 


Police raid offices of Prayag,MPS Group  

KOLKATA, 2 MAY: Police today raided the office of Prayag Group and MPS Group after they received complaint from depositors alleging non-payment of their dues. Police raided two offices of Prayag ~ one at India Exchange Palace and another at Bhupen Roy Road in Behala. Offices of MPS, one at Chowringhee and another at Lake Town were raided. "We took the initiative after complaints were lodged against them in Tamluk and Kolaghat police stations. Depositors there alleged that both the companies failed to give their money back on time. We have asked both the companies and their branches to stop transaction and posted police guards outside the offices till further investigation." said a senior officer of the city police. sns

statesman news service  

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