The Assembly on Tuesday passed the new West Bengal Protection of Depositors in Financial Establishment Bill, 2013 amid objections from the Opposition left Front and the Congress which raised doubts as to whether the “new legislation is intended at providing escape route to the fund swindlers.”
Congress staged a walkout while the left backed the Bill but not before suggesting amendments, which was however turned down by the Government leading the Opposition to suspect whether the draft would get Presidential assent as “in its current form it against the Constitution.”
The older West Bengal Protection of Depositors Interest Bill passed by the then left Government in 2009 and lying in Delhi for the President’s assent was withdrawn by the Trinamool Congress Government in order to make it “more stringent and foolproof.”
“The State Government may not be able to get the Presidential assent as it defies Constitutional provisions,” Opposition leader Suryakanto Mishra said complaining the Government rejected the amendments introduced by the left Front leaving “enough escape route for the swindlers.
“It seems that the Government is least interested in giving relief to the lakhs of investors who were cheated by the swindlers because the Bill would finally leave escape route for the swindlers including the ones who are behind the bars now.”
There is still doubt whether the new Bill, which is almost similar to the older one barring three sections would have retrospective effect. The Congress did not take part in voting and staged a walkout instead.
Meanwhile, the Shyamal Sen Commission set up by the State Government to investigate into the case started its work on Tuesday receiving complaints of the depositors. Among other things the high-level five-member Commission is empowered to direct the investigating agencies and recommend relief.