kolkata saradha group which mobilized over rs 2000 crore from west bengal and other east and northeastern states was not the only company that was running ponzi schemes even according to conservative estimates there are at least 26 groups that have allegedly been operating such schemes for the last seveneight years raising over rs 17000 crore in west bengal alone there are at least 15 companies which have individually mobilized more than rs 500 crore in the lok sabha on march 14 2013 union minister of state for corporate affairs sachin pilot presented a statewise list of companies against which complaints were received for indulging in such ponzi schemes according to the list there are 73 firms including saradha realty against whom there are complaints for allegedly violating the cis collective investment scheme law these include vibgyor allied infrastructure rose valley real estates constructions rose valley industries silver valley communications modern investment traders rupasi bangla projects india saradha realty india rtc properties india goldmine agro tower infotech chakra infrastructure gold field agro icore eservice mps aqua marine products mps greenery developers prayag infotech hirise prayag infra realtors rahul hirise ramel industries and uro agro india capital market regulator securities and exchange board of india sebi and the registrar of companies have initiated action against some of these companies sources added that sebi has zeroed in on three more firms in the state one of them has close links with soccer at the national level and has invested in film infrastructure another firm is in the twowheeler assembling business and has its headquarters in moulali kolkata while the third one has interest in education hotels and leather goods sebi is trying to do its bit but our scope is limited under existing laws like saradha realty we issued a showcause notice in december 2011 but they did not listen to us sources added incidentally the capital market regulator took action against sun plant agro rose valley real estate and mps greenery developers and pacl india but all the cases are pending in different courts