Press Esc to close
Thursday 30 October 2014
News updated at 5:13 PM IST
Weather
Max: 0°C
Min : 0°C
In Bangalore
Sunny day

73 'Ponzi' funds will be shut down, says Bengal government

Kolkata, April 30, 2013 (IANS)

The West Bengal government Tuesday announced it would shut down, by Wednesday, 73 companies against whom the central government has received complaints of indulging in 'Ponzi', or multi-level marketing, schemes.

Making the announcement in the state assembly, Chief Minister Mamata Banerjee said the government was looking into the list of 73 companies named by union Corporate Affairs Minister Sachin Pilot against which the central government has got complaints.

She was speaking in the house after a bill seeking to bring to justice those trying to dupe people by collecting money from them.


"We will close the companies in the next 24 hours," she said.

Banerjee, however, refused to name the companies. "If I say anything it will alert the companies," she later told media persons in the assembly lobby.

Pilot had named the companies during Question Hour in the Lok Sabha March 14.
Banerjee said her government would keep an eye on the financial establishments to ensure poor investors were returned the money.

The chief minister said her government has taken a timely step to pass the bill to protect the interests of the people and it would be an example for the rest of the nation.
She said the relevant bill would be sent to Governor M.K. Narayanan for his signature May 5 once he returns to the state.

Speaking during discussion on the vote of thanks to the governor for his address to the assembly, she alleged that many files and documents of the earlier Left Front regime were now missing, prompting a walk-out by Left Front members.

Go to Top

Photo Gallery
Devotees offer prayers during Chhath festival celebrations at Galta Kund in Jaipur...

Devotees offer prayers during Chhath festival celebrations at Galta Kund in Jaipur...

Dipika Pallikal in action against Japan's Misaki Kobayashi in finals of JSW-PSA...

Dipika Pallikal in action against Japan's Misaki Kobayashi in finals of JSW-PSA...

Delhi Dynamos FC (orange) and North East United FC (white) players in action during...

Delhi Dynamos FC (orange) and North East United FC (white) players in action during...

President Pranab Mukherjee during the conference of directors of National Institutes...

President Pranab Mukherjee during the conference of directors of National Institutes...

Army personnel take position during a search operation of Lashkar-e-Taiba hideouts...

Army personnel take position during a search operation of Lashkar-e-Taiba hideouts...

Workers build the stage at the Wankhede stadium for the swearing in ceremony...

Workers build the stage at the Wankhede stadium for the swearing in ceremony...

Sri Lankan team during practice session before the match against India A...

Sri Lankan team during practice session before the match against India A...

Bollywood actor Shah Rukh Khan with filmmaker Farah Khan, actors Boman Irani...

Bollywood actor Shah Rukh Khan with filmmaker Farah Khan, actors Boman Irani...

Vehicles ply at Rajpath as fog covers it in New Delhi...

Vehicles ply at Rajpath as fog covers it in New Delhi...

A camel herder stands beside resting camels at the annual cattle fair in Pushkar...

A camel herder stands beside resting camels at the annual cattle fair in Pushkar...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523