fabulous interest at 48 per annum to its members later reduced to 36 through loan certificates though the loan certificate receipt showed the rate of interest as only 11 it is quite premature to say that nothing much can be done in the saradha realty case but a lot of similarities have already surfaced between saradha and sanchayita like saradha sanchayita was also accused of showering largesse on political parties and politicians quite similarly the chit fund that began with only rs 7000 in 1975 had swelled to more than rs 120 crore in 1980 before its closure but the state government could not prove much against the firm in court in 1983 about 5000 depositors formed a forum and filed a case in calcutta high court justice manjula bose ordered the appointment of joint administrators to seize sanchayitas properties and distribute the money among the depositors in the same year another group of depositors filed a case in supreme court the court ordered that a commissioner be appointed in place of the existing administrators the impact of the chit funds failure was quite disastrous with the criminal case against the accused in the city court dragging on for 30 years many have lost hope having lost their lifes savings some depositors even committed suicide some still clutch desperately on to the promise of justice only a handful have got back a part of their money as for the accused mukherjee committed suicide under mysterious circumstances guha was declared insolvent by a delhi court and murarka remains untraceable tapan guha the elder brother of swapan apparently the brain behind the company lives in mumbai