Surya Kanta Mishra criticises new investors protection bill

KOLKATA: Senior CPI(M) leader Surya Kanta Mishra today questioned why a new bill was being introduced to protect interests of depositors in chitfunds when it was similar to the bill passed by the previous Left government.

"There is 90 per cent similarity between the two bills. Then what is the need for this new bill needs to clarified. Why is the old bill being called back?" asked Mishra, the Leader of the Opposition.

"The state government wants to bring in a new bill to deal with chit funds. But it has not clarified why it wants to call back the old bill brought by the Left Front government in 2009, which was sent for president's assent," Mishra told reporters.

"Under which clause of the Constitution have they called back the bill needs to be answered. They can't just bulldoze this demand of the opposition," he said.

Copies of the West Bengal Protection of Interest of Depositors in Financial Establishments Bill, 2013, were circulated among members in the Assembly during the day.

It will replace the earlier West Bengal Protection of Depositors Interest Bill 2009 introduced by the previous Left Front government on December 22, 2009.

Mishra also took a dig at the chief minister's statement that her government was unaware of chit funds operating in the state before April 15.

"The chief Minister and the Saradha Group were like a family. The CM was seen inaugurating many newspapers and channels of this group," Mishra said.