Home ODISHA LATEST Odisha chit fund scam: Another 5k small depositors identified

Odisha chit fund scam: Another 5k small depositors identified


Cuttack: Justice MM Das Commission probing the chit fund case identified another 5,000 small investors in sixth phase.

Among total small depositors invested in around 20 chit fund firms, 2,272 are of Tower Group and 1,171 are of Sunmarg Micro Finance.

The Commission identified the small depositors (who had invested upto Rs 10,000) based on their affidavits.

The panel in its next report to the government will recommend the small investors’ names for the refund of their deposit amounts.

In the sixth phase of the probe, the Commission had served notice to various ponzi firms asking them to take their stand in the multi-crore chit fund scam. However, no officials representing the accused firms appeared before the panel.

Earlier, the chit fund commission had verified total 5.93 lakh affidavits in five phases. In the sixth phase, 2,24,253 affidavits submitted by the small depositors are being verified.

Notably, the Commission had presented the fifth interim report to the State government on July 13, 2018, recommending refund of money to the victims.

The next report will be submitted to the government soon.