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  1. Beware! Over 1 lakh small depositors lost money in chit fund scam in this state

Beware! Over 1 lakh small depositors lost money in chit fund scam in this state

The Justice M.M. Das Commission of Inquiry submitted its fifth interim report to the state government on Friday.

By: | Published: July 13, 2018 8:25 PM
7th pay commission salary hike latest news Reports said 486 chit fund firms operated within and outside Odisha.

A panel probing Odisha’s chit fund scam has identified more than one lakh small depositors who lost their money to chit fund companies in the state.

The Justice M.M. Das Commission of Inquiry submitted its fifth interim report to the state government on Friday. It has recommended a refund to these depositors.

The voluminous report runs into 12,530 pages.

“We have identified over one lakh small depositors, who had invested in 290 chit fund companies,” said Justice M.M. Das.

He said the work on the sixth part of the report was under way, and that it would identify more depositors.

Reports said 486 chit fund firms operated within and outside Odisha. These were issued notice by the commission, asking them to appear before it.

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