Saradha Scam: Sebi attaches Sudipto’s Properties


Mumbai: To recover the investors’ money today Sebi has ordered attachment of 134 properties of the West Bengal-based firm and its chief Sudipta Sen to recover Rs 774.3 crore along with other dues.The properties being attached include land parcels, buildings, and flats, resorts, as also furniture, televisions, refrigerators, generators and computers. Sebi has also asked Saradha Realty India Ltd and Sudipta Sen to provide full details of all their movable and immovable properties.

Sebi had first passed order against Saradha in April 2013 after a massive Ponzi scheme like fraud came to light. Sebi had ordered Kolkata-based Saradha Realty India to close all its collective schemes and refund the money collected from investors within three months. Besides, the company and its chief were also barred from the markets.

Saradha Realty India Ltd and its Managing Director Sudipta Sen for their failure to pay a sum of Rs 774.3 crore (as a partial amount) Sebi said the defaulters failed to pay the amount and did not even respond to the recovery notices.

Giving a list of all such properties, Sebi said that “all persons are hereby prohibited from taking any benefit under such disposal, transfer, alienation or charge in respect of the properties mentioned above, which stand attached in execution of the Recovery Certificate”.

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