Make money from fund depositors chit or quit

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The Pradesh Congressional Committee (CPC) alleged on Friday that despite extensive discussions by Union and state governments, neither chit fund companies are yet punished nor victims compensated; rather the people who invested in these companies are betrayed.

At a press conference, the head of the CCP’s media cell, Ganeswar Behera, lamented that the two governments appeared to have protected the interests of the ponzi companies rather than the interests of the depositors.

Behera raised nine questions and demanded that if the government does not reimburse the victims’ down payments, it must resign. Over the past seven years, the government has paid around 10 crore rupees to just seven thousand people, meaning that the government, despite its promise, has not even spent 10 percent of the 300 crore corpus fund. rupees provided for this purpose. What happened with the properties of thousands of crore seized from chit fund companies, he asked.

In addition, the state government abruptly closed the work of the Das Commission on February 4, 2019 despite the scrutiny of more than eight lakh affidavits of depositor was underway.

Behera said that the special tribunal set up under the Odisha Investor Protection Act 2011 in its judgment of February 26, 2011 ordered the government to distribute the amount received from the tender from the Seashore company valued at 635 crore rupees among the depositors, but the court order was not followed.

On the other hand, the state government received 5 crore rupees for stamp duty from 30 lakh depositors for filing their affidavits with the Das Commission.

Behera also asked what happened to important hard drives with information on financial transactions etc. seized by the Criminal Branch of the ponzi schemes.


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