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Justice MM Das Commission submits 5th interim report on chit fund scam

Post News Network
Updated: July 13th, 2018, 13:17 IST
in Metro
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Bhubaneswar: Justice MM Das Commission, probing into the multi-crore chit fund scam in Odisha, submitted its fifth interim report to the state government Friday.

The commissioner handed over the report to the Home Secretary at the State Secretariat here.

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The commission has identified around 50,000 investors who have invested Rs 10,000 or less after the fifth-phase verification of 2,52,000 affidavits.

The commission had issued notice to 486 chit fund companies.

The commission has recommended the state government to take measures for refund of money to the small investors on a priority basis.

The inquiry commission has so far identified 1,16,504 small investors who have invested less than Rs 10,000 in various chit fund companies.

Constituted on July 9, 2013, the commission of inquiry had submitted its fi

The state government had set up a Rs 300-crore corpus fund in 2013 to refund money of small depositors who had invested Rs 10,000 or less in the chit fund companies.

Tags: Multi crore chit fund scam
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