The judicial commission of inquiry probing into the chit fund scam cases in Odisha issued notices to the government today seeking details about all non-banking financial companies (NBFCs) dealing with money laundering activities in the state.
The commission, headed by former judge of Orissa High Court Justice M M Das, has also asked the state government to furnish details of any action taken against any NBFC operating in violation of provisions of the RBI Act 1934 and the Prize Chits and Money Circulation Scheme (Banning) Act of 1978.
The Commission's notice came while adjudicating over a petition filed by an advocate of the High Court alleging that several NBFCs are operating their business in the state violating statutory provisions.
The commission, set up by the state government in July 2013, is probing to identify individuals and entities indulging in illegal activities of money collection and to find out involvement of any influential persons in protecting and promoting such activities in the state.
