The Enforcement Directorate (ED) on Monday summoned film maker Arpana Sen in connection with her alleged role in the Saradha Chit Fund Scam.
The ED will also be questioning West Bengal State Textile Minister Shyamapada Mukherjee for his alleged links to the scam. He said to have sold land to Saradha Chit Fund the stakeholders in Bankura in 2009.
The Kolkata-based Saradha Group, ponzi scheme had over 10,000 registered chit funds across the country and with an aggregate turnover of Rs.30, 000 crore per annum.
The Saradha Group is said to have defrauded thousands of investors, including poor people, in West Bengal, leading to the arrest of its owner Sudipta Sen.
The industry is governed by Chit Fund Act 40/1982 and is regulated by state governments with their own set of rules. Reserve Bank of India is the principal regulator and at the state level Registrar of Chits/The Inspector General of Registration oversees these regulations.