Saradha Scam Case: CBI Raids Six Locations In Mumbai
Saradha scam case: CBI raids six locations in Mumbai involving three senior SEBI officials.
The Central Bureau of Investigation (CBI) on Monday conducted raids at six locations in Mumbai in connection with the Saradha scam case.
The places where the raids were conducted include the residences and office premises of three officials of the Securities and Exchange Board of India (SEBI).
Explain that the role of all the three officers in the Saradha Ponzi scam is under suspicion.
During his posting at the Kolkata office of the market regulator between 2009 and 2013, the role of the officials has been under suspicion.
The case relates to an alleged financial scandal and a political scandal caused by the collapse of the Ponzi scheme run by the Saradha Group.
The Center is conducting a multi-agency investigation in the scam case, including the Income Tax Department and the Enforcement Directorate (ED).
Many prominent personalities including politicians, members of the Legislative Assembly (MLAs), and Members of Parliament (MPs) have been accused of involvement in the scam.
The raids have taken place at a time when the assembly election campaign is going on fast in West Bengal.
Supreme Court will hear hearing on bail plea of Gautam Navlakha today.
The Supreme Court will hear on Monday the bail plea of Gautam Navlakha, accused in the Elgar Parishad-Naxalite affair.
On March 15, a bench of Justices UU Lalit and Justice KM Joseph asked the National Investigation Agency (NIA) to file a reply to Navlakha’s bail plea.
The bench fixed March 22 as the date of hearing in the case. Additional Solicitor General SV Raju requested the bench to give the NIA some more time to file its reply.
Navlakha has challenged the February 8 order of the Bombay High Court in the Supreme Court. The High Court has dismissed Navlakha’s bail plea.
He has argued that the NIA has not filed the charge sheet in the stipulated period of 90 days, hence forms the basis of bail. The High Court had said that Navlakha’s 34-day detention cannot be considered as a period spent in jail.
