Odisha Govt Extends Chit Fund Probe Panel’s Tenure By Another 6 Months

Bhubaneswar: The Odisha government has extended the tenure, for the second time, of Justice MM Das Commission of Inquiry, probing the multi-crore chit fund scam by another six months.

“It is felt necessary to extend the tenure of the Commission of Inquiry of Justice Justice M.M. Das (Retd.) appointed vide this department notification  No.371/C, dated  5.2.2015 to take up the inquiry into the unauthorised collection of public deposits in the state from the stage it was left over by Late Justice R.K. Patra. The inquiry is in progress and the time stipulated in this notification No.1907/C., dated 31.07.2018 is expiring on 4.2.2019. Now, therefore, in exercise of the powers conferred by Section 3 read with sub-section (1) of Section 5 of the Commissions of Inquiry Act, 1952 (60 of 1952), the state government has made amendment in the said notification by extending the gross tenure of the Commission from 48 months to 54 months,” said the notification issued on February 1.

The state government had set up the one-man commission of inquiry with Justice R K Patra on July 9, 2013, for verification and return of deposits collected by different Ponzi firms.

Following the death of Justice Patra, the government in February 2015 had appointed retired Justice Madan Mohan Das to head the inquiry.

The Commission, till date, has submitted fifth interim report to the government and recommended for the refund of money deposited by the small investors on a priority basis. About 8.7 lakh small investors have filed affidavits with the Commission.