State Editions

Rs 4 cr spent for chit fund probe panel

| | BHUBANESWAR | in Bhubaneswar

The State Government has spent Rs 4 crore for the Commission to probe chit fund fraud. The panel has so far given four interim reports and has got its tenure extension for 14 times. Similarly, while the Government has constituted a corpus fund of Rs 300 crore four years back, not a single duped investor has got back his money.

Finance Minister Sashi Bhusan Behera told this to the House on Monday while replying to a number of questions on the chit fund issue by Member Dilip Ray.

Minister Behera informed that for probing the illegal collection of money by the Ponzi companies in the State, the State Government had appointed a commission under former Orissa High Court Chief Justice Radhakrushna Patra in 2013. The commission was to submit its report within three months. However, later, the tenure of the Patra Commission was extended thrice and after the death if Justice Patra in 2015, the State Government appointed former Justice MM Das to conduct the probe. Das’s tenure was for six months . However, later it was extended for nine times for 42 months, said Behera.

According to the Finance Minister, for meeting the allowances and perks of the staff of the commission, various miscellaneous expenses and official works, the Government spent Rs 4, 23,18, 171 over these years. The Das Commission has given four interim reports so far and after finalising the action to be taken on the reports, the Government would place them in the Assembly, Behera said.




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