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Sudip Bandyopadhyay's arrest in Rose Valley scam: Some serious questions that Mamata Banerjee should answer
When Sudip Bandyopadhyay, a second TMC leader (after Tapas Paul), was arrested by the Central Bureau Investigation (CBI) in a week, Mamata Banerjee, the Chief Minister of West Bengal went out of control and slammed Prime Minister Narendra Modi using ugliest possible language.

She narrated the arrest as a case of political vendetta by the BJP government because of TMC's opposition to demonetisation drive. She also asserted to arrest Narendra Modi apart from declaring that she will not remain quite and will do vigorous protests to counter BJP's vendetta politics.

Immediately in Kolkata, a TMC group ransacked BJP office for four hours even in the presence of West Bengal police. Many BJP leaders and workers were injured in the attack. Signal from TMC is very clear that street fight in the name of political protest will continue. I have some serious questions for Mamata Banerjee, but before that let's know what Rose Valley scam is all about.

Rose Valley chit fund scam is said to be the biggest scam amounting to Rs 60,000 crores as per various reports. This scam is around seven times bigger than Saradha chit fund scam. According to Enforcement Directorate, Rose Valley collected around 15000 crore rupees from investor across India. Maximum depositors are from Odisha, West Bengal, Assam and Bihar.

All India Small Scale Depositors' Association has claimed that the Rose Valley collected around Rs 40000 crore against ED's estimate of Rs 15000 crore. Huge amount of money is siphoned from Rose Valley through money laundering and other fraudulent methods. Various politicians as well as authorities helped the Rose Valley authorities in such laundering and siphoning off money for financial favours such as bribe or in exchange of kinds. Because of such fraud, the depositors who deposited their hard earned money wishing lucrative returns, are set to lose their deposits.

In 2012, IRDAI raised objections on the way the company was being operated. Then PILs were filed and finally in May 10, 2014 the Supreme Court ordered CBI probe into this matter rejecting the state government's investigation or argument to establish its own SIT. In March 2015, the owner of the Rose Valley, Goutam Kundu and his associates were arrested. They are still inside jail.

Now, let me ask Mamata Banerjee some serious questions. Isn't there any scam in Rose Valley chit fund (or in Saradha chit fund)? Can any scam be possible without the help of people from political and bureaucratic power corridor? If there's any evidence shouldn't the investigation agency apprehend the person against whom there are some suspicions or some incremental evidence? Because you are in power, should your MPs be spared even if there are solid reasons to arrest and interrogate them?

Let me, for a minute, concede that this might be a political vendetta. But, how should you fight such vendetta? By using state machinery against your opponents? Protesting in streets despite being the ruler in the state? Isn't it a case in which you are indirectly insisting to spare your (tainted) people? Or, you are very worried that the long arm of the law may catch hold of you also? CPI's Mohammad Salim (who too opposed demonetisation) today claimed that even you are involved in this scam on a TV channel (News19).

When Narendra Modi was the Chief Minister of Gujarat, he was hounded by CBI in lot of cases including 2002 Godhara riots, Isharat Jahan encounter etc. His party claimed it as political vendetta. But then Modi and BJP cooperated with CBI, fought their cases in the court to get clean chit. They never organised protest rallies nor attacked their opponents (Congress in this case). This is called decorum of politics.

In any case, Modi government hadn't ordered for CBI investigation into Rose Valley scam. It was SC that ordered the investigation when you were the CM of West Bengal and Narendra Modi was yet to know whether his party is winning the general elections or not. (Election results were declared on 19th May 2014 whereas the SC ordered on 10th May 2014).

Shouldn't Mamata Banerjee cooperate with the investigating agency and fight the case in the court if there's a vendetta angle? Demonetisation is over and politics on demonetisation too is over as people rejected the opposition.

Thus don't oppose investigation in the name of poor people because it's the poor people who lose their hard earned money in such scams.

Editorial NOTE: This article is categorized under Opinion Section. The views expressed in this article are solely those of the author and do not necessarily represent the views of In case you have a opposing view, please click here to share the same in the comments section.
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