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Chit fund case: NCLT orders winding up of Saradha Group's 13 firms

The group had mopped up money from over 17 lakh depositors through a ponzi scheme before it collapsed in 2013

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The National Company Law Tribunal's (NCLT) city bench has ordered winding up of 13 defunct companies of the Saradha Group and directed the official liquidator to take possession of assets and properties of all these companies.

The group companies are Global Automobiles Ltd, Saradha Tours and Travels, Saradha Shopping Mall, Saradha Agro Development, Bengal Media, Saradha Housing, Rose Capital Ltd, Saradha Construction, Saradha Educational Enterprises, Saradha Garden Resort and Hotel, Saradha Landmark Cement, Saradha Exports and Bhasank Foods.

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