Kolkata, Sep 25 (PTI) Calcutta High Court on Monday said the list of assets of private firm 'Leaps and Bounds' submitted to it by the Enforcement Directorate (ED) appears to be grossly inadequate.

The Calcutta High Court on September 14 had directed the ED to produce the list of assets of the private firm whose CEO is MP and Trinamool Congress leader Abhishek Banerjee and allegedly involved in the school teacher recruitment scam in West Bengal.

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Observing that the ED list is grossly inadequate, Justice Amrita Sinha criticised the agency for the tardy progress of the investigation and asked it whether additional assistance was required for expediting the probe by other officers joining in the process.

She said the ED list mentioned only three life insurance policies of Banerjee and that the description of assets of the company and its directors are also incomplete.

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Justice Sinha said valuation of the firm hasn't been mentioned and there appears to be inconsistency in regards to the address of the company.

On a bare perusal of the activities of the company, it appears that it caters to all types of business from 'pin to elephant', Justice Sinha said.

Justice Sinha also criticised the ED saying it is yet to inquire the transactions of the directors of the firm.

The ED is the investigating agency and is required to provide details of the transactions, valuation and clients of the company, she said, adding that details of the employees, their bank accounts, valuations of the assets of the company should be inquired into and placed before the court.

She also said the investigation agency will have to find out from the Registrar of Companies (RoC) whether all legal formalities were complied with.

The court said the investigation ought to be dealt with extreme urgency as candidates appointed may not be eligible to impart education to primary students.

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