Press Esc to close
Tuesday 24 January 2017
News updated at 10:26 AM IST
Weather
Max: 30.3°C
Min : 16.8°C
In Bengaluru
Sunny day

WB govt tables bill to protect depositors

Kolkata, April 30, 2013, DHNS:
Protest against the chit fund scam. File Photo
The West Bengal government on Tuesday introduced a new piece of legislation in the Assembly to protect the depositors from non-banking financial organisations that lure them with promises of high returns, following the Saradha Chitfunds scam.

The government introduced the new legislation after withdrawing a similar bill brought in by the previous Left Front government.

In a two-day special session of the Assembly, state finance minister Amit Mitra tabled the “The West Bengal Protection of interest of depositors in Financial Establishment Bill- 2013’, which, according to the government, has sufficient teeth to punish fraudsters.State parliamentary Affairs Minister Partha Chatterjee said, “Once the bill becomes an act, the new legislation will be able to effectively deal with scams like the Saradha Group. The new bill will be more stringent and empower authorities to confiscate and not merely attach the assets of perpetrators of frauds".

Earlier, the Assembly passed a resolution to withdraw a bill passed during the Left Front rule. Introducing the motion in the House, Chatterjee said that in 2009, the bill was passed in the Assembly but the governor has not given the nod. He said that the Centre had returned the bill as it had been decided to recast the legislation in order to strengthen it.
Opposing the motion, Leader of the Opposition Surya Kanta Mishra said, “The Bill is lying with the President of the country. How can the Centre intervene? The Centre has no constitutional right to interfere.

“Since the bill was passed in the House, the communication route should have been from the President to the governor and then to the Speaker,” Mishra said.In his reply, Chatterjee held that the Left Front did nothing to deal with fraudulent companies.

 

Go to Top

Photo Gallery
Inmates of Netaji subhash Chandra Bose Central Jail perform at a programe on Netaji's birth...

Inmates of Netaji subhash Chandra Bose Central Jail perform at a programe on Netaji's birth...

The contingent of Indian Navy marching past during the full dress rehearsal for the Republic Day...

The contingent of Indian Navy marching past during the full dress rehearsal for the Republic Day...

Bollywood actors Sidharth Malhotra (L) and Katrina Kaif at the 'Umang Mumbai Police Show 2017’...

Bollywood actors Sidharth Malhotra (L) and Katrina Kaif at the 'Umang Mumbai Police Show 2017’...

Camel mounted Indian Border Security Force soldiers march during the full dress rehearsal for...

Camel mounted Indian Border Security Force soldiers march during the full dress rehearsal for...

An injured is taken away for treatment after police resorted lathicharge to disperse protesters...

An injured is taken away for treatment after police resorted lathicharge to disperse protesters...

Riot Control Police take away pro-Jallikattu protesters after a clash at the Marina Beach...

Riot Control Police take away pro-Jallikattu protesters after a clash at the Marina Beach...

A Pro-Jallikattu protester throws bottle at the police during a violent clash near Marina Beach...

A Pro-Jallikattu protester throws bottle at the police during a violent clash near Marina Beach...

A pro-Jallikattu protester throwing bottles at police personnel during a clash near Marina...

A pro-Jallikattu protester throwing bottles at police personnel during a clash near Marina...

A worker stitches the national flag at a workshop on the occasion of Republic Day in Bhiwandi...

A worker stitches the national flag at a workshop on the occasion of Republic Day in Bhiwandi...

Actors Jackie Chan and Sonu Sood along with the other starcast during a promotional event...

Actors Jackie Chan and Sonu Sood along with the other starcast during a promotional event...

Like us on Facebook

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