Home ODISHA LATEST Odisha chit fund scam: Refund of money to begin soon

Odisha chit fund scam: Refund of money to begin soon

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Odisha Sun Times Bureau
Bhubaneswar, Jul 29:

The Odisha government will soon begin the process for refund of money to investors who lost their hard-earned money in the mega chit fund scam in the state.

Investors duped by chit fund companies protesting delay in return of money to them
Investors duped by chit fund companies protesting delay in return of money to them

In a video conferencing with Additional District Magistrates (ADMs) of five districts at the State Secretariat here today, chief secretary GC Pati asked the Finance and the Law departments to work in tandem and expedite the process.

The chief secretary directed the ADMs to expedite the attachment of properties of the chit fund companies and bring to the notice of the court the cases registered against these companies.

It was revealed that at present, 19 cases against 17 chit fund companies are sub judice while Rs 144 crore and more than 160 acres of land of 17 chit fund companies has been confiscated.

The designated court, after confiscation of properties of the Rose Valley and Safex chit fund companies, has asked them to refund the money to the investors.

Law secretary, special secretary, Home, additional secretary, Finance, Director General of Police (DGP) and Additional Director General (ADG), Crime Branch were present.

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