Durgapur, 21 July
Chit fund policy papers dispatched from a Kolkata branch to a Durgapur hideout were seized by police after locals erupted in protest alleging gross irregularities. The documents, according to police, were related to public investments made in favour of a chit fund operator in the name of a clinic and healthcare institution development.
Police said that the seized papers would be scrutinised first and then the officials would be asked to explain why those were being shifted ‘silently’  to the basement chamber of a polyclinic run by the company.  The policy papers found, were from Kasba and Kidderpore in Kolkata, Islampur in South Dinajpur and its corporate office in Burdwan.“Each paper bears the names and addresses of individual depositors along with their policy patterns and proposed refund tenure,” said Tozammel Haq, investigating official with the City Centre Police Investigation Centre. “We need to inquire into this further,” he said.  Bardhaman Sanmarg, an NGO and corporate agent of Life Insurance of India had turned to a chit fund, which subsequently became the official sponsor of Mohun Bagan, and a SAIL Football Academy here.
Police arrested four officials of the company&’s Durgapur branch three days ago after a section of depositors blamed that the company was not refunding their deposited sum.