Chit fund probe panel extends deadline for filing affidavits

The Justice R K Patra Commission of Enquiry, constituted to probe illegal collection of money by chit fund companies, has extended the deadline for filing of the complaints against these unscrupulous finance organisations.

An order to extend the date to September18 will be issued on Monday, Patra said.

Earlier, the last date to file the grievances and appeal was fixed as August 31. The commission has received about 16501 affidavits till August 20.

Patra said, people can file complaints on a blank paper with court fee of Rs three pasted on it.

As per government estimates, 650,000 persons were duped to the tune of Rs 4,375 crore between January, 2012 and June, 2013, by chit fund companies operating in the state.

The state police and crime branch had taken action against 127 firms, filed 280 cases and arrested more than 300 persons for involvement in the scam. The companies against whom the cases were registered include Seashore group, Arthatatwa and Rose Valley.

The state government has announced a corpus fund of Rs 300 crore to give relief to small investors who have lost their money in the scam.

Besides, the government has directed opening of grievance cells in the office of the Superintendent of Police (SP) in every district. SPs have been asked to meet the complainants on daily basis.

Recently, a Bill to secure interests of small depositors has finally got the Presidential assent. The Bill - Odisha Protection of Interests of Depositors (in Financial Establishment)-2011 - after the President's assent, will arm the state government to initiate punitive action against the offenders.