Cong accuses Chg govt of inadequate action on chit fund cos

Opposition Congress today staged a walkout from the Chhattisgarh Assembly while accusing the ruling-BJP of not taking a stern action against chit fund companies who are defrauding people.
Raising the issue during Question Hour, Congress MLA Motilal Dewangan sought reply from Home Minister Ramsevak Paikra on the number of FIRs being registered till June 30 against the chit fund companies and about the amount they have embezzled.
In his reply, the Home Minister informed the House that cases were registered against 25 chit companies on receipt of complaints against them and the amount estimated to have embezzled is over Rs 44,84,81,201.

"During investigations, the amount of Rs 9 crore was returned to the investors by the HBN company," Paikra said.
He said that the state chief secretary had directed constitution of a special cell at the district-level to investigate the complaint against chit fund companies.
Such special cells have been set up in 19 districts and investigation is underway against various companies against whom complaints are received, he said.

However, unsatisfied over the home minister's reply, Dewangan said, "Why special cells had not been formed in all 27 districts and how government allowed mushrooming of fake chit fund companies in the state?"

In his reply, Paikra said the state government had passed an Act in the Assembly to prevent chit fund companies from duping people and has forwarded the same to the President for his approval.
Later, the leader of opposition in the house TS Singhdeo said that the state government was not taking strong action against such non-banking institutions that are defrauding people to the tune of crores.
Following this, Congress members staged a walk out from the House while accusing the government of favouring the chit fund companies.