The Saradha Group of Companies was a Ponzi scheme operating in Eastern India, primarily in West Bengal, Assam, and Odisha. It collapsed in 2013, defrauding thousands of investors who were promised high returns. The scam led to multiple investigations, arrests of key figures, and political controversies.
Justice Shyamal Kumar Sen enquire Sharadha Group of Companies who have reportedly mobilized funds from the common people of the State in various forms including deposits, debentures, etc. and set up different ventures for the past several years.
Governor is pleased to appoint a Commission of Inquiry consisting of Honble Justice Mr. Shyamal Kumar Sen for Sharadha Group of Companies to inquire into the methodology and means adopted by the said Group of Companies and such other companies involved in similar activities in the State of West Bengal.