Chit fund scam: small investors to get back money soon


Bhubaneswar: As many as 88,228 small depositors, who lost their money to chit fund firms, are likely to get their refunds soon.

The Odisha government has decided to begin the process for refund of money invested by the people in chit fund companies in the State in a couple of days.

The tehsildars have already started verification process of the small depositors, invested upto Rs 10,000 in various chit fund firms in the State. The depositors will get back their money after verification in the first phase, sources said.

It is worth mentioning here that of 88,228 small investors, the Commission headed by Justice MM Das had identified 26,976 in the first phase and 61,251 in the second phase after verifying their affidavits.

The state government is examining the third and fourth phase interim report of the Commission for refund of money to the remaining investors.

Notably, principal secretary, Finance, Tuhin Kant Pandey had directed all district collectors to take necessary measures to refund the money of the small investors within a month.

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