HC seeks state reply on seizure of Saradha Group properties

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SummaryThe state has already paid Rs 50 crore to the depositors, which according to the PIL, is not acceptable under law.

The Calcutta High Court Wednesday directed the state government to file an affidavit within four weeks stating the steps taken to seize the property of Saradha Group of companies.

The court also wanted the state counsel to inform the steps taken by the government against the company under the Money Laundering Act.

The court was hearing a PIL, filed by Advocate Basabi Raichaudhury, challenging the government’s decision to pay compensation to depositors from government exchequer and termed it illegal.

The state has already paid Rs 50 crore to the depositors, which according to the PIL, is not acceptable under law. The government has also announced to hand over another Rs 30 crore to the depositors.

The petition further states that the government should make payments to the depositors after selling Saradha’s property. Government counsel said the state would file affidavit on the petition.

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