In a ray of hope for lakhs of depositors of the Rose Valley chit fund firm, the Special Chit Fund Court here on Thursday directed the State Government to refund the deposits of the small investors.
As per reports, there are as many as 2, 38,477 investors for whom the State would disburse a total fund of Rs 92.08 crore.
The directive of the court mentioned that the Revenue Inspectors (RIs) would identify the investors at the panchayat level first and then begin the process of fund disbursal through online mode.
The refund money would be deposited in the bank accounts of the depositors, sources said.
Besides, the court said that the investors with deposits of Rs 7,000 or less would get a total refund
While those who had deposited more than Rs 7, 000 and less than Rs 10,000 would be refunded Rs 7, 000 plus 52 per cent of the remaining deposit over and above Rs 7, 000 in their respective accounts, the sources added.