Saradha agent hanged himself in Durgapur

A 33 year old chit fund agent of a Saradha Group company, a chit fund company that has gone bust committed suicide in Durgapur yesterday being unable to pay his depositors. While around 3000-odd chit-fund agents staged a demonstration near the chief minister’s residence in Kalighat as the bonhomie between the Sharda Group and Trinamool Congress is a well known fact. Presence of several leaders and ministers, including the CM in several programmes of Saradha Group has only added more and more investors confidence to get lured by the high returns promised by the chit fund company.

Trinamool MP Kunal Ghosh and Saradha Group’s Director Sudipta Sen in happier days

Jadav Majhi, the Saradha Group agent, who has been working for the last one year, hanged himself in Durgapur, unable to repay his depositors. His body was found hanging inside a closed shop, selling building materials. Jadav hails from Gangajalghati of Bankura and was working in the shop for the last five years or so.

The owner of the shop, Gopal Sutradhar has reported that Jadav has been in tremendous mental pressure after the scam of the chit fund company came into light. According to local residents, he was under severe mental pressure as the chit-fund agency was failing to pay the maturity amounts to depositors.

Like Jadav Majhi, all the other agents and depositors — who number in lakhs — have been pushed beyond the edge of desperation. They are already selling off family jewellery and land to pay up angry depositors. Some of the agent leaders from rural areas have liabilities over Rs 20 crore. Many of the agents even fear that they might be lynched by investors if they return and stay in homes. They are in such desperation that they even prefer to court arrest.
However the suicide of Jadav Majhi and the siege of Mamata’s house yesterday, could only be the beginning.

Depositors have already ransacked Saradha offices in Baruipur, Tarakeswar, Goghat, Murshidabad, Birbhum and East Midnapore, indicating that the flames are spreading gradually. It’s only a matter of time before the angry millions start marching from the villages to Kolkata to demand an answer from Trinamool Congress leaders, some of whom were seen as the flag-bearers of the Saradha Group.

Though, Trinamool leaders are desperately trying to distance themselves from the raging fire but the ruling party cannot wash its hands of the muddle so easily. Saradha Group CMD Sudipta Sen is known for his proximity to Trinamool Congress and Party MP Kunal Ghosh was the Group CEO of Saradha’s media interests till 4th April 2013.

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