CPI-M hails ruling on chit fund case

New Delhi, May 9 (IANS) The CPI-M Friday welcomed the Supreme Court ruling handing over the Saradha chit fund case in West Bengal to the Central Bureau of Investigation (CBI).

"The Saradha scam had affected 25 lakh depositors in four states. But the Mamata Banerjee government in West Bengal has been doggedly opposing investigation by the CBI," the CPI-M said.

"The CBI probe should be able to uncover the political nexus behind this large-scale swindling of funds and the money laundering involved," it said in a statement.

"Immediately, all the assets of the Saradha group of companies and the owners should be confiscated and interim compensation paid to all the depositors," it said.