Odisha extends tenure of panel probing chit fund scam

The Odisha government on Saturday extended by another six months the tenure of a commission probing a chit fund scam.

The tenure of Justice M.M. Das Commission of Inquiry on unauthorised collection of public deposits further extended for six months with effect from February 5, tweeted the Home Department.

In February 2015, the government appointed retired Justice Madan Mohan Das as the commission of inquiry after the death of Justice R.K. Patra, who was initially probing the scam.

The government set up the one-man commission for verification and return of deposits collected by different chit fund companies in July 2013.

The probe panel has submitted four interim reports to the government so far, said sources.

It has recommended the state government to refund money deposited by the small investors on priority basis.

About 8.7 lakh affidavits have been filed with the commission by the depositors duped by many chit fund companies in Odisha, said commission sources.

--IANS

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