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Fraudsters such as Sudipta Sen wouldn't have mushroomed in West Bengal had it not been for the explicit support of its political parties. Starved of big-ticket investments following the exit of Tata Motors from Singur, the closure of tyre major Dunlop and uncertainty over Infosys and Wipro's continued interest in the state, West Bengal was desperate to be seen as an investment hub in quick time. When money began to talk, business ethics and due diligence took a backseat.<br><br>The meteoric rise of Shankaraditya, alias Sudipta Sen, from a real estate agent to the state's top businessman, was propelled by a well-crafted entry into the media business, and close-knit connections with politicians cutting across party lines, especially Trinamool Congress (TMC) leaders like Kunal Ghosh, Srinjoy Bose and Madan Mitra. Revelations by Sen point to others in the loop as well, including Congress MP and Union Minister of State for Health A.H. Khan Chowdhury and lawyer Nalini Chidambaram, wife of Union Finance Minister P. Chidambaram. For Sen, who is said to have had plastic surgery to change his looks after being involved in human trafficking in the 1990s, politics was a tool to carve his niche in eastern India.<br><br><div class="itg-mosimage"><div class="itgimage"><amp-img  src="https://akm-img-a-in.tosshub.com/sites/media2/indiatoday/images/stories/2013May/chit3_650_050413095233.jpg" alt = "" height="425" width="650" class="" layout="responsive"></amp-img></div><div class="clicktoenlarge" ><a href="#" target="_blank" rel="dofollow">Click here to Enlarge</a></div></div>"The rise of TMC in the state is closely connected to the rise and existence of fraudulent financial institutions," Surya Kanta Mishra of CPI(M), who is also leader of the Opposition in the Assembly, told india today on April 30, the day the state Assembly passed a new Bill to shield depositors from such financial schemes in the aftermath of the scam. "What else explains the launch of more than 10 tv channels by Saradha Group, and TMC leaders heading them?" But tmc has put the blame back on CPI(M), saying chit funds thrived during the latter's reign. "Saradha began in 2006. Chit funds mushroomed during Left rule," Partha Chatterjee, the state's minister for commerce and industries, told a TV channel on April 24, alluding to the Sanchayita chit fund scam in the early 1980s.<br><br>Sen extended his connections beyond West Bengal to Assam and Delhi. The endorsement he got from Khan Chowdhury in September 2011 in a letter to the pmo is evidence enough of how his tentacles crossed party lines. Sen also dragged Nalini Chidambaram into the dispute, saying he paid her Rs 1 crore to draft an agreement between journalist-turned-media owner Manoranjana Sinh and himself, to set up a news channel in Assam. Congress has rubbished the charges against Nalini. Sen's links to Assam politicians came to light in his letter to CBI. He claimed he had paid Assam Education and Health Minister Himanta Biswa Sarma Rs 3 crore in cash over two-and-a-half years. Sarma hasn't taken the charge lightly and has sent Sen, now in custody, a legal notice demanding an apology.<br><br>Sen always wanted only his group to feature on the front pages of his publications. With his scam exposed, ironically, Saradha Group is in every publication free of cost-just the way he prefers it.<br><br><i>With Malini Banerjee.</i><br><div id="tab-link-wrapper-plugin"><div class="authors__container"><div class="authors__by"><div class="authlable">Published By: </div><div class="authdetaisl">AtMigration </div></div><div class="published__on"><div class="authlable">Published On: </div><div class="authdetaisl">Nov 30, 1999 00:00 IST</div></div></div><div class="sendros">--- ENDS ---</div></div>

special-report

Special Report

Fraudsters such as Sudipta Sen wouldn't have mushroomed in West Bengal had it not been for the explicit support of its political parties. Starved of big-ticket investments following the exit of Tata Motors from Singur, the closure of tyre major Dunlop and uncertainty over Infosys and Wipro's continued interest in the state, West Bengal was desperate to be seen as an investment hub in quick time. When money began to talk, business ethics and due diligence took a backseat.<br><br>The meteoric rise of Shankaraditya, alias Sudipta Sen, from a real estate agent to the state's top businessman, was propelled by a well-crafted entry into the media business, and close-knit connections with politicians cutting across party lines, especially Trinamool Congress (TMC) leaders like Kunal Ghosh, Srinjoy Bose and Madan Mitra. Revelations by Sen point to others in the loop as well, including Congress MP and Union Minister of State for Health A.H. Khan Chowdhury and lawyer Nalini Chidambaram, wife of Union Finance Minister P. Chidambaram. For Sen, who is said to have had plastic surgery to change his looks after being involved in human trafficking in the 1990s, politics was a tool to carve his niche in eastern India.<br><br><div class="itg-mosimage"><div class="itgimage"><img  title=""  class="" alt="" src="https://akm-img-a-in.tosshub.com/sites/media2/indiatoday/images/stories/2013May/chit3_650_050413095233.jpg" loading="lazy" /></div><div class="clicktoenlarge" style="width:100% text-align:center" valign="bottom"><a href="#" onclick="javascript:window.open('https://akm-img-a-in.tosshub.com/sites/media2/indiatoday/images/stories/2013May/chit_lag_050413095233.jpg','window','status=no,resize=yes,toolbar=no,scrollbars=yes,width=1021,height=978'); return false;" rel="dofollow">Click here to Enlarge</a></div></div>"The rise of TMC in the state is closely connected to the rise and existence of fraudulent financial institutions," Surya Kanta Mishra of CPI(M), who is also leader of the Opposition in the Assembly, told india today on April 30, the day the state Assembly passed a new Bill to shield depositors from such financial schemes in the aftermath of the scam. "What else explains the launch of more than 10 tv channels by Saradha Group, and TMC leaders heading them?" But tmc has put the blame back on CPI(M), saying chit funds thrived during the latter's reign. "Saradha began in 2006. Chit funds mushroomed during Left rule," Partha Chatterjee, the state's minister for commerce and industries, told a TV channel on April 24, alluding to the Sanchayita chit fund scam in the early 1980s.<br><br>Sen extended his connections beyond West Bengal to Assam and Delhi. The endorsement he got from Khan Chowdhury in September 2011 in a letter to the pmo is evidence enough of how his tentacles crossed party lines. Sen also dragged Nalini Chidambaram into the dispute, saying he paid her Rs 1 crore to draft an agreement between journalist-turned-media owner Manoranjana Sinh and himself, to set up a news channel in Assam. Congress has rubbished the charges against Nalini. Sen's links to Assam politicians came to light in his letter to CBI. He claimed he had paid Assam Education and Health Minister Himanta Biswa Sarma Rs 3 crore in cash over two-and-a-half years. Sarma hasn't taken the charge lightly and has sent Sen, now in custody, a legal notice demanding an apology.<br><br>Sen always wanted only his group to feature on the front pages of his publications. With his scam exposed, ironically, Saradha Group is in every publication free of cost-just the way he prefers it.<br><br><i>With Malini Banerjee.</i><br><div id="tab-link-wrapper-plugin"><div class="authors__container"><div class="authors__by"><div class="authlable">Published By: </div><div class="authdetaisl">AtMigration </div></div><div class="published__on"><div class="authlable">Published On: </div><div class="authdetaisl">Nov 30, 1999 00:00 IST</div></div></div><div class="sendros">--- ENDS ---</div></div>

Sen always wanted only his group to feature on the front pages of his publications. With his scam exposed, ironically, Saradha Group is in every publication free of cost-just the way he prefers it.

India Today

Sudipta Sen bought friends among powerful politicians and extended his influence by buying media organisations, defrauding thousands of investors

Clean Chit Across Parties - India Today

Clean Chit across parties: Sudipta Sen bought friends among powerful politicians and extended his influence by buying media organisations, defrauding thousands of investors

Clean Chit Across Parties

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Clean Chit across parties: Sudipta Sen bought friends among powerful politicians and extended his influence by buying media organisations, defrauding thousands of investors

Sen always wanted only his group to feature on the front pages of his publications. With his scam exposed, ironically, Saradha Group is in every publication free of cost-just the way he prefers it.

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