LAW FOR ALL

Transfer of a case from state agencies to the CBI - major financial scam nicknamed ‘Chit Fund Scam’ affecting lakhs of depositors across several States in the Eastern parts of this country. - Apex court held that Investigation by the State Police in a scam that involves thousands of crores collected from the public allegedly because of the patronage of people occupying high positions in the system will hardly carry conviction especially when even the regulators who were expected to prevent or check such a scam appear to have turned a blind eye to what was going on. we need to point out that money trail has not yet been traced. The collections made from the public far exceed the visible investment that the investigating agencies have till now identified. So also the larger conspiracy angle in the States of Assam, Odisha and West Bengal although under investigation has not made much headway partly because of the inter-state ramifications, which the Investigating Agencies need to examine but are handicapped in examining - we allowed this transfer petition.= Subrata Chattoraj …Appellant Versus Union of India & Ors. …Respondents = 2014(May.Part) http://judis.nic.in/supremecourt/filename=41531