Saradha scam: TMC moves SC for court-monitored probe - Livemint

In November, the CBI had arrested the Mamata Banerjee-led party’s Rajya Sabha MPs Kunal Ghosh and Srinjoy Bose. The agency has also questioned three party members. Photo: Mint

New Delhi: West Bengal’s ruling Trinamool Congress (TMC) party on Monday petitioned the Supreme Court to monitor the Central Bureau of Investigation (CBI) probe into the multi-crore Saradha chitfund scam, after three of the party’s leaders, including two Members of Parliament (MPs), were arrested by the federal agency.

Congress leader and lawyer Kapil Sibal appeared for the party on Monday. The court will hear the matter on 22 January.

Members of the party, led by West Bengal chief minister Mamata Banerjee , believe crucial aspects of the investigation were being leaked, necessitating a court-monitored probe.

In November, the CBI had arrested the party’s Rajya Sabha MPs Kunal Ghosh and Srinjoy Bose . The agency has also questioned three party members.

With the Mamata Banerjee-led party on the backfoot, the Bharatiya Janata Party (BJP), which leads the central government and is looking to expand in West Bengal, said the Trinamool was getting nervous.

The investigation and its outcome could become an election issue when the state goes to polls in May 2016.

“TMC moving the Supreme Court is an internal decision of the party and in a democracy, everyone has the right to go to the court. We respect their right,” said Sidharth Nath Singh , the BJP’s national secretary and in-charge of West Bengal.

“However, it does show that the TMC leadership is nervous due to the Saradha scam investigation and the role of their leaders being exposed.”

He also questioned Sibal’s appearance in the case on behalf of the Trinamool Congress.

TMC members were not willing to talk about the petition.

Derek O’Brien , a Rajya Sabha member from the TMC and the party’s national spokesperson, declined to comment.

A Supreme Court bench headed by justice T.S. Thakur had on 9 May directed that the probe be transferred to the CBI from state agencies.

The TMC application on Monday claimed that the CBI is toeing the line of the central government and was conducting an “unfair and partial” investigation. While asking the court to monitor the CBI probe, the party also asked for a court directive to stop the investigative agency from “leaking the details of the investigation”.

The general secretary for West Bengal Pradesh Trinamool Congress has also sought to be made part of hearings in the case.

The court’s 9 May order had noted that the Saradha group of companies had floated several “fraudulent (Ponzi) schemes”, including schemes for land allotment, flat allotment and travel and tours.

It cited a report by a chartered accountants’ firm submitted to the Securities and Exchange Board of India (Sebi), which stated that the Saradha group had collected an estimated Rs.2,459 crore.