The CBI on Monday constituted a Special Investigation Team (SIT) to probe the Saradha chit fund case in which investors in four States were allegedly duped of over Rs10,000 crore.
The SIT, to be headed by Joint Director (Northeast) Rajeev Singh, will also probe the role of market regulators like Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI).
The SIT constituted under Joint Director will comprise agency officials from West Bengal, Odisha, the Northeast and Bihar, an agency spokesperson said. “The SIT will soon collect all relevant documents before registering the FIR in the matter. The CBI will also look into the larger conspiracy angle,” the spokesperson added.
The team was formed in the wake of the Supreme Court order on a PIl on Friday asking CBI to probe the matter and directing the State police forces to cooperate with the Central agency in the investigation.
The SIT will take a legal opinion before deciding whether one case has to be registered or separate cases are required to be filed, the sources said. The SC had directed the CBI to probe Saradha and 44 other companies in Odisha which are allegedly involved in the scam. The Enforcement Directorate (ED) is probing money laundering aspect against the Saradha Group and has registered five cases so far.