MCA agonised over fraud probe as cheat funds ran riot

It was not that the ministry of corporate affairs (MCA) was unaware of the explosive state of affairs of around 57 chit fund companies operating in West Bengal, including the Saradha Group. Based on a complaint by a Congress MP from the state in September 2011 (which he later withdrew), the MCA’s registrar of companies (RoC) West Bengal had initiated...

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