Maintaining that the ponzy scam had affected thousands of depositors in four states, CPI(M) Politburo said "the Mamata Banerjee government in West Bengal has been doggedly opposing investigation by the CBI in the matter."
"The CBI probe should be able to uncover the political nexus behind this large-scale swindling of funds and the money laundering involved," it said.
The CPI(M) also demanded immediate confiscation of all assets of the Saradha group of companies and the owners and payment of interim compensation to all depositors.
In another statement, the CPI said the blocking of a CBI probe by the Trinamool government was "obviously motivated with the intention of protecting her own party people who are alleged to be involved."
Observing that the scam had affected several lakhs of poor people in West Bengal, Assam, Odisha and Jharkhand, CPI Central Secretariat said "by its very nature, CBI was the appropriate agency to investigate the fraud perpetrated," but TMC government had blocked the reference of the case to CBI.
"The Supreme Court has therefore done well in the matter referring the whole case to CBI," it said.