• News
  • Columns
  • Interviews
  • BW Communities
  • BW TV
  • Subscribe to Print
BW Businessworld

Mamata Orders Closure Of 2 Fund-raising Cos

Photo Credit :

West Bengal Chief Minister Mamata Banerjee on Tuesday, 30 April 2013, ordered the closure within 24 hours of two fund-raising companies which had five or six sister concerns.

"We have given instructions to close the two companies in 24 hours and we are keeping an eye on other such companies," the chief minister told reporters in the Assembly lobby after her speech in the House during the passage of the new investors' interest protection bill.

In her thanksgiving speech after the passage of the West Bengal Protection of Interest of Depositors in Financial Establishment Bill, 2013 in the House, the chief minister said that the state government was studying the list of 73 rogue financial companies given by the Centre.

Stating that the new bill was a timely step, she claimed that the day would be remembered in history not only in Bengal, but in the entire country and the world.

Banerjee said that her government took immediate action as soon as the scam came to its notice.

Mistakes are made, but could be rectified, she said.

Banerjee thanked the President for returning the previous bill to help the state government to introduce strong legislation to rein in chitfund companies.

So long as the old bill was not withdrawn, it was difficult to cope with the situation, she claimed.