AGARTALA, June 14 (TIWN): Manik Sarkar led CPI-M Govt’s patronage for Chit Fund companies are evident by the fact that, Orissa, Bengal Govts confiscated many moveable and immoveable properties of Ponzi firms like Sarada, Rose Valley and put them up for auctions, but Tripura yet to take up any such actions. Rose Valley Chit Fund’s Tripura headquarter building (beside Rabindra Bhavan) was supposed to be confiscated and then should be demolished as building itself was illegally constructed by bribing AMC (Agartala Municipal Corporation) and CPI-M leaders. However even after looting thousands of crores, CPI-M Govt reluctant to confiscate hundreds of acres prime land and moveable,immoveable properties across Tripura amassed by Rose Valley, Sarada, Basil Interational and other smaller Chit fund companies. Total amount collected by the Chit fund companies (in Tripura) was Rs 1,172 crore while Rose Valley alone had collected over 700 hundred of crores from middle class / poor depositors over years and looted all the money.

A total of 246 cases have been registered by the CBI against 128 companies, including Saradha Group, Rose Valley, Unipay 2 U, Jeevan Suraksha, Prayag, Abyss Assam Group Co, Basil International Limited and Daffodils Group of Companies in Bengal, Orissa, Assam, Tripura  but CBI’s investigation progress almost NIL in Tripura.

One serving IPS official alleged  that , CBI’s North East Zone head Rajib Singh who was posted earlier as IG of Tripura Police maybe the reason behind slow moving CBI investigation in Tripura.

IPS officer Rajib Singh is extremely close with Manik Sarkar, which most likely the primary reason for CBI’s go-slow policy on Tripura’s 1122 crores Chit Fund scams.

So far, CBI’s chit fund investigation in Tripura barely made any progress due to apathy of CBI’s North East Zone Shillong office and unholy alliance among few Tripura Ministers, Police officials, local CBI bureau.

Leading Kolkata based national news channel ABP Ananda in March 30, 2015 aired a special coverage on the chit fund lootingsin Tripura. ABP Ananda flashed State's leading online portal TRIPURAINFOWAY.com for links and pictures of Manik Sarkar and Ministers like Bijita Nath promoting Rose Valley and other Chit fund companies.

ABP Ananda TV Channel showing TRIPURAINFOWAY News on Chit Fund scam nationally on March 30, 2015

Much highlighted (by paid journalists) clean image of the Chief Minister Manik Sarkar was dented after the telecast of the Chit Fund’s patronage by Manik Sarkar in the news channel nationwide. Even the State Secretary of CPI-M Bijan Dhar who was taking a staunch stand defending the party and the Chief minister against any allegation about the involvement of the party leaders said that the CM could have averted the inauguration programme of the Amusement Park owned by Rose Valley Group at Amtali near Agartala in 2008. CM in his speech during the inaugural programme praised the activities of Rose Valley Group and also its owner Gautam Kundu.

On March 27, 2015  the opposition leader in the Tripura Legislative Assembly Sudip Roy Barman termed Manik Sarkar as a “Brand Ambassador” of various chind fund companies that grew like mushrooms over the last few years . Barman had alleged that the Non Banking Financial Companies were given trade licenses by the state Government run under Manik’s leadership.

In the Press meet, the opposition leader further lleged that inspired by the “wide open arms” attitude of the Chief Minister, other ministers as well as the other party leaders of the CPI(M) state unit also started promoting these chit fund companies by being present in their different programmes and praising the companies in those programmes. Party leaders in different capacities started taking advantage of the situation created by the hobnobing of the top brass of the party with chit fund companies operating in the state. 

Manik Sarkar even tried to make personal attack on the opposition leader at that time when he was asked to clarify his proximity with the chit fund companies.

Though the Tripura CM tried to play down the accusations by saying that he was not aware of the fact that the Rose Valley Group was a chit fund company, But Tripura CM’s innocence under question that when the same CPI-M in West Bengal demanded SEBI’s action against different chitfund companies including the Rose Valley Group How can Maik Sarkar remains unaware about Rose Valley Group’s identity ?  

Orissa and Bengal Govts already started process of auctioning confiscated properties of Ponzi firms but Tripura CPI-M Govt keeping their eyes closed on multicrore Chit Fund scams.