Challenging the State Government’s recent notification to create a ‘corpus fund’ for the purpose of refund of money to investors who have been duped by the chit fund companies, a PIl was filed in the High Court on Wednesday.
Terming the Government move as “arbitrary” and “illegal”, Utkal Bharat president Kharabela Swain and secretary Sk Kamiluddin Ahemad in their petition urged the court to quash the notification.Following hue and cry, the Government last year had announced to set up the corpus fund, and on October 20 this year came out with the notification stating that the money for the corpus fund would be collected by way of taxing the public in various ways.Stating that this exercise of filling the corpus fund is “misutilisation” of public money, the petition has urged the High Court to direct the Government to recover the amount from the chit fund companies or by auctioning and selling the movable and immovable properties and assets seized from these firms.