Chit-fund scam: SC notice to Assam on CBI's plea against HC

The Supreme Court today sought a response from Assam government on a plea filed by CBI against the Gauhati High Court order asking it to take over probe in all the chit fund scam cases in the state.
"Issue notice. Returnable in four weeks," a bench of justices T S Thakur and C Nagappan said and stayed the high court's order asking CBI to take over investigation in all 481 FIRs relating to 221 chit fund companies.
"The High Court will be free to monitor 15 cases which were initially handed over to CBI", the bench said.
It also allowed the plea of CBI, which was asked by the high court to file a status report by tomorrow, that the time be extended.

The apex court granted two weeks more time to CBI for filing the status report in the high court.
Solicitor General Ranjit Kumar and Additional Solicitor General Maninder Singh, appearing for CBI, said that the agency lacks manpower and cannot handle the burden of probing all 481 FIRs lodged in the state.

The agency has take over four big cases in the state, they said, adding that the High Court order asking CBI to take over all 481 cases was wrong.
The High Court had, in January this year, asked the Assam government to hand over all the cases relating to various such chit fund companies and non-banking finance companies (NBFC) to CBI without further delay.

This order was passed as the court was dissatisfied with the progress made by state agencies.