The Supreme Court of India on 9 May 2014 ordered CBI inquiry into multi-crore Saradha chit fund scam that happened in West Bengal, Odisha and Assam. The court has also directed the CBI to investigate ponzi scheme scams of Odisha.
In its direction the Court has directed the state agencies to assist the CBI in its probe.
As per the order of the apex court, the CBI during the process of inquiry will probe against Saradha Company in West Bengal along with 44 other firms of Odisha those were allegedly involved in chit fund scams.
This order of investigation was ordered by the apex court, while hearing three petitions (two from Bengal and one from Odhisa) in the Saradha scam case.
The order was passed by a bench of Supreme Court that was led by Justice TS Thakur. The bench said that an in-depth probe is required by the premier investigative agency in aspects of inter-state ramifications and also due to larger angle of conspiracy in the case.
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