The Pioneer had carried a story dated 22.10.2014 titled ‘ED sniffing out chit fund, terror links’ wherein it was reported that SFIO had found a link with an alleged shady investment company “Al Masah Capital limited” and that investigators were trying to find a link between the said company and Saradha or whether the money transacted was routed to set up terror training camps.
The above report was based on certain reports carried by other newspapers. The Pioneer has not been able to independently confirm the veracity of the report and it has been advised by Al Masah Capital limited that there has been no relationship between KD Singh and themselves since past over four to five years. The Pioneer regrets the use of word “shady” investment company and to have published the report, based on an unverified article. Use of words such as shady were unintended and without having any intention to harm the reputation of Al Masah Capital limited or its directors.
The Pioneer expresses an apology for having published Al Masah’s name in this article and regrets the error.