The State Government would accept online applications from duped chit fund investors for refund of their money from March 15.
Finance Minister Pradip Amat on Saturday told reporters here that online application for refund of money would begin from March 15 for which an
applicant would have to approach Panchayat Jana Suvidha Kendra in each gram panchayat and follow necessary steps for refund of money.
“Our aim is to ensure that small and genuine investors get justice. The Odisha Computer Application Centre (OCAC) has prepared the software through which applicants can submit their applications. It will be available from March 15,” said Amat.
He informed that as many as 23 cases have been filed against 21 chit fund companies.
“We have initiated process to confiscate the properties of five chit fund companies in the State,” said Amat.
On Friday the State Cabinet had approved the proposal for amendment of Odisha Protection of Interests of Depositors (in financial establishments) Act, 2011.
As per the proposed amendments, a competent authority would be entrusted with the power to sell property which is subject to speedy and natural decay quickly for maximum realisable amount to safeguard the interest of depositors. Besides, it defines a small depositor as one who has invested less than Rs10,000.
However, the Congress and the BJP opposed the move of the Government.
“At a time when a judicial commission is probing the scam then why the Government came up with new mechanism. Either it abolish the commission or give it full freedom for inquiry,” said senior BJP leader Bijay Mohapatra. Senior Congress leader Ganeswar Behera questioned the Government’s sensitiveness and said why it didn’t take measure for identification of chit fund victims and refund of money earlier.