Govt changes chit fund panel's terms

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Seeking to pave way for return of money to smaller investors from the corpus fund, the State Government has amended the earlier terms of reference (ToR) of the Judicial Commission of Inquiry probing into the chit fund scam.

Speaking to reporters here on Tuesday, one-man commission Justice Madan Mohan Das informed that besides the earlier terms, the Government has sought to identify the bona fide investors and the companies in which they have invested money and to suggest measures as to how the smaller investors get back their money from the corpus fund. The Government last year had set up the corpus fund of Rs300 crore for the purpose.

Formed in July 2013, the commission was revamped in February this year following the death of its head Justice RK Patra. While the commission has received more than ten lakh affidavits, the process of digitisation of the affidavits is now on to create a database for early compilation of a report.

Daily Pioneer
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