Chit Fund Scam: SC Notice To Odisha Govt & CBI

New Delhi: The Supreme Court on Tuesday issued notices to the Odisha Government and the Central Bureau of Investigation (CBI) in the multi-crore chit fund scam.

A division bench of the apex court, comprising Justice MR Shah and Justice Krishna Murari, issued the notices directing them to file a response with regard to steps taken to return deposits of the investors. The next hearing on the matter has been posted for November 14.

Appearing for the petitioner Pinak Pani Mohanty, lawyer and activist Prashant Bhushan told the court that not a single investor has got his/her money back.

The CBI had been probing 44 chit companies in Odisha following an apex court verdict in 2014.

Notably, the inquiry commission headed by Justice (retd) R K Patra had recommended that the money be returned to small depositors. Following this, the government claimed to have identified 5 lakh beneficiaries.


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