'Trinamool-Bandi' After 'Note-Bandi': Livid Mamata Banerjee On Arrests

The BJP office in Kolkata was attacked this evening, minutes after one of the most senior leaders of Mamata Banerjee's party was arrested for alleged involvement in a ponzi scheme that bankrupted lakhs of small investors in Bengal. After the arrest of Sudip Bandyopadhyay, who is an MP from the Trinamool Congress, Ms Banerjee accused Prime Minister Narendra Modi of "Trinamool-bandi after note-bandi", alleging that her party is being persecuted for its aggressive campaign against his demonetisation drive.

Last week, the CBI arrested Tapas Pal, an actor-turned-politician from the Trinamool Congress. Ms Banerjee, who is serving her second consecutive term as West Bengal Chief Minister, said the arrests were made on the directions of the Prime Minister's Office. Alleging "politics of revenge," she said, "I challenge Modi, if you think you can arrest our leaders and run away, we will not let this go."

The CBI is investigating the unregulated financial investment schemes that were run by Rose Valley - a Bengal conglomerate



with interests in real estate and entertainment. The case, filed two years ago, accuses Rose Valley of stealing nearly 17,000 crores from investors.

Mr Pal was a director in two companies owned by Rose Valley. CBI sources say Mr Bandyopadhyay has avoided answering their question on the nature of his links with Rose Valley. Mr Bandyopadhyay said the allegations against him are unclear.

Within parliament and in street protests in cities like Lucknow and Patna, Ms Banerjee has led the opposition's attack on the PM's abrupt decision to ban high-denomination notes. Ms Banerjee says demonetisation, declared with the intent of cracking down on black money and tax evaders, and the ensuing cash shortage, has left millions of poor people unable to earn or access their savings in an economy nearly entirely dependent on cash, especially in rural areas, where banks are few and tough to access.
The Trinamool Congress is holding an emergency meeting after Mr Bandyopadhyay's arrests and plans to launch protests tomorrow.