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Odisha Chit Fund Scam: Justice MM Das Commission Submits 7th Interim Report


12 July 2019

Bikash Sharma


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Bhubaneswar: Justice MM Das Commission of Inquiry has submitted its seventh interim report to the State Government based on the inquiry conducted from January 1, 2019 till May 31, 2019.

Briefing about the report on Friday, Justice MM Das said the Commission has identified about 1,36,027 small investors and has recommended for refund of money from the corpus fund.

The seventh-phase of inquiry had included 421 chit fund companies and money of some investors was refunded. While 4,97,844 investors have been identified till date, 1931 have been able to get refund from the companies.

Justice Das informed that in the first-phase of inquiry during tenure of Justice RK Patra, the Commission had not invited affidavits to identify investors.

However, the Commission had received more than 8 lakh affidavits out of which small investors were segregated and identified as per government reference. There are around 60,000 more small investors who will be covered in the next report by September 2019.

As the Commission under Justice RK Patra had not invited any affidavits for identification of investors, many applications were received in later stage stating they have not submitted affidavits due to lack of reference, the Commission invited fresh affidavits from remaining investors till January 31, 2019.

Following it the Commission has received around 7.5 lakh affidavits that are to be digitized. After digitization, the small investors will be identified within the shortest possible period and then the question of big investors will come, said Justice Das.

It is worthwhile to mention that the State Government has created a corpus fund of Rs 300 crore for refund purpose. The sixth interim report had been submitted based on the inquiry conducted till December 31, 2018.

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Justice MM Das