Millennium Post

Fresh anti-ponzi scheme bill passed in Bengal

The new West Bengal Protection of Interest of Depositors in Financial Establishments Bill, 2013 was passed in the state assembly on Thursday, after withdrawing the earlier one following objections from the Centre.

The Bill was moved in the House by the state finance minister Amit Mitra incorporating some clauses as suggested by the union finance ministry.

The ministry had raised objections and had sought clarifications from the Trinamool Congress-led state government on the earlier Bill. Clarifications were sought on widening the powers of special designated courts dealing with cases related to chit funds and that no court could grant anticipatory bail.

The new Bill was passed incorporating fresh provisions like attachment of property in case of default in payment of deposit and transfer of property.

Leader of Opposition in the assembly Surjya Kanta Mishra strongly criticised the fresh Bill describing it as an equally non-transparent one and said the withdrawal of the previous Bill was unconstitutional.
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