Business Standard

Chit fund scam: Odisha extends judicial panel tenure


Press Trust of India Bhubaneswar
The Odisha government today further extended the tenure of the Justice M M Das Commission probing into the multi-crore chit fund scam by six months, with effect from August 5, officials said today.
A notification in this regard was issued by the Home Department.
The state government had constituted the panel headed by Justice M M Das on July 2013 to probe unauthorised collection of public deposits.
It has so far submitted five interim reports and identified over two lakh small investors, who deposited Rs 10,000 or less with different ponzi companies.
The commission has also issued notices to 486 chit fund companies.
The Odisha government has created a corpus of Rs 300 crore for the purpose of refunding money to the small depositors.

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First Published: Jul 31 2018 | 5:25 PM IST

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