Kolkata, Jan 3 (IANS): The Communist Party of India (Marxist) on Tuesday said Trinamool Congress MP Sudip Bandyopadhyay's arrest by the CBI in the Rose Valley chit fund scam was "much awaited" and accused the Narendra Modi government of delaying the arrest.

"Sudip Bandyopadhay's arrest was imminent, much awaited and delayed. He is not alone. It is a gang robbery. Chit fund operators looted the common people while a sizeable section of Trinamool leaders looted the (chit fund operators) through extortions and donations. They (culprits) were sheltered by some Trinamool leaders in exchange for financial assistance," CPI-M politburo member Mohammad Salim told IANS.

Bandyopadhyay, leader of the Trinamool Legislative Party in the Lok Sabha, was arrested by the Central Bureau of Investigation in Kolkata for his alleged involvement in the multi-crore rupee scam.

He is the second Trinamool MP after Tapas Paul to be arrested in the scam. The CBI arrested Paul on December 30.

Salim said the Supreme Court had ordered the unearthing of the scam and returning the money to the depositors.

"Why were Trinamool leaders not cooperating with investigators?" Salim said.

The CPI-M leader also hit out at the Centre and said that the CBI went slow in the chit fund scam cases.