The Institutional Finance wing of the State Finance Department, which is scrutinising property attachment case of chit fund firm Flourish India, said on Wednesday that it would complete verification and send its report to the designated court by January 31.
“We have already sent files on three chit fund companies and are in the process of scrutinising Flourish India file sent by the Economic Offences Wing (EOW). We will send it to the court latest by January 31,” said Institutional Finance Director DK Singh, while addressing a seminar on financial inclusion organised by the Reserve Bank of India (RBI) at Puri.
The State Government has so far sent files of Sharadha, Seashore and Shastra chit fund companies to the designated court, which has been constituted under the Odisha Protection of Interests of Depositors (Financial Establishment) Act, 2011. The properties of Flourish India include 251 acres of land, two costly four-wheelers, bank balance of around `12 lakh and cash of more than `1 lakh.
The Crime Branch probing the scam has so far seized `86 lakh in cash, `127 crore by freezing bank accounts, 203 kg silver, 1,583 kg gold and 22 four-wheelers from Sharadha, Seashore and Shastra and Flourish India. The RK Patra Commission of Enquiry has meanwhile received nearly a million of affidavits from people who have deposited money in ponzi schemes floated by the tainted chit fund companies.