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SC orders CBI probe into Odisha chit fund scam


Odisha Sun Times Bureau
New Delhi, May 9:

As anticipated, the Supreme Court today ordered a CBI probe into the multi-crore chit fund scam in Odisha in which lakhs of depositors lost their hard earned money.Supreme Court of India

The court which pronounced its order in the PIL case filed by Alok Jena in the matter this morning, said the CBI will be probing the multi-crore chit fund scams in both Odisha and West Bengal. The court further said the CBI will be probing the larger conspiracy angle in the multi-crore scam.

44 chit fund companies in Odisha will be probed by the CBI.

The court said the state police’s probe was in the right direction but CBI probe will give a sense of credibility to the investigations.

The court hoped that the CBI will be impartial in its probe and will also trace the money trail in the multi-crore scam which the state police has failed to do.

The apex court Bench, however, set aside suggestions that a committee comprising senior lawyers, retired DG level police officials and others be constituted to assist the CBI probe, saying,  if necessary the court will itself monitor the case.

Alok Jena
Alok Jena

An elated Alok Jena, the petitioner in the PIL case, told OST, “I am grateful to the Hon’ble Supreme Court and the Almighty. Although I have reasons to be very happy with the court order, I dedicate this victory to the poor people who had invested money in these fraud companies in good faith, the friends in the media and civil society who stood by me all through. I always have great faith in God and the hon’ble Supreme Court of India and I knew with their blessings, justice will be done,”

The apex court’s order has been welcomed by senior BJP leader Suresh Pujari.

Talking to the local television channel OTV, he said the BJP had been suggesting to the state government to go for a CBI probe long since the scam had inter-state ramifications but the state government hadn’t paid any heed to it.

Pujari said, he hoped the probe by CBI will look into the involvement of politicians in the scam since without political patronage a scam of such huge dimension would not have been possible.




  2. Thanks to the Supreme Court for its decision but one must think about those innocent agent and workers who took money from people directly and gave it to the company. What does he do now ? Good companies want to refund the money to depositors and continue in their business. Thousands of people who work for these companies will now be on the streets. Any help for them ?

    I always have great faith in God !
    And the Hon’ble Supreme Court of India and I knew with HIS blessings, justice will be done,”

  4. The judgement by apex court ordering CBI investigation in chit fund scam is historic one from Justices TS Thakur and C. Nagapan. CBI no doubt is the appropriate body ( than the state crime branch) to probe the multi-crore chit fund scams in both Odisha and West Bengal. The apex court order must be welcomed by all as poor people who have lost crores of rupees to 44 fraud companies will get justice. Besides CBI, Justice Patra Commission is now inquiring into details of affidavit of investors who have suffered losses and harassment at the hands of these fraud companies. But the Commission and Crime Branch agency are not suitable to find out involvement of the high profile people who are the real ‘men of the match’ in this huge scam. The compensation for the investors and punishment to the guilty will not be possible without a CBI inquiry. The Patra commission and state government should co-operate with the CBI to catch the big fish involved in this.

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