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Chit fund scam: Public notice issued to 576 financial agencies

9/03/2019 at 1:38 PM

Cuttack: The Justice MM Das Commission of Inquiry, probing the multi-thousand crore chit fund scam, has served public notice to a total of 576 financial agencies and establishments through newspaper to appear before it between April 15 and September 24 after they failed to depose before the panel.

The notices have been issued in two categories. In the first category notices have been issued to 199 companies whose addresses and information of owners are available with the commission. Notices have also been served to 377 companies who have no valid addresses.

Last month, the State Government had extended the tenure of the MM Das Commission by six months.

The State Government formed the commission in July 2013 to probe into the chit fund scam in the State. In February 2015, the Government appointed retired Justice Madan Mohan Das as the Commission of Inquiry after the death of Justice RK Patra, who was initially probing the scam.

The commission has identified over one lakh small investors, who has invested less than Rs 10,000 in the chit fund companies and also recommended the State Government to take measures for refund of their money on a priority basis.

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