Even as the Assam Government has started the process to hand over the cases of money swindling by some companies to the CBI, the Government has sent the Assam Protection of Interests of Depositors (in Financial Establishments) (Amendment) Bill, 2013 to Assam the Governor for his assent.
A statement issued by the office of the Assam Chief Minister Tarun Gogoi said this and added that the Bill, after receiving assent of the Governor will protect the interest of the depositors in financial establishments.
It will empower various authorities to receive complaints and to start investigations into fraudulent transaction the statement said adding that the government can also initiate investigation on its own or on the receipt of any complaint.
Once given ascent by the Governor, it will also make the laws more stringent making it mandatory for the financial establishments to make certain disclosures and punishment for non-compliance. It has provision to make the offences as cognizable and non-bailable with rigorous imprisonment of minimum 5 years which may be extended to 10 years and fine up to Rs 5 lakh.
It will also have provision for fast track or special courts to expedite disposal of cases, the statement said.
Meanwhile, as per the announcement of Assam Chief Minister Tarun Gogoi, the Government is planning to hand over about 15 such cases of money swindling against 12 companies to the CBI.
It may be noted that the State Government had already registered 222 cases against 128 companies including Saradha Group, Rose Valley, Unipay 2 U, Jeevan Suraksha, Prayag, Abyss Assam Group Co, Basil International ltd., Alliance Vision Marketing Pvt. ltd and Daffodils Group of Companies after widespread protests rocked Assam.
Besides 17 cases, charge sheets have been filed against 42 persons belonging to 15 companies while altogether 303 persons have been arrested for swindling public money. The government had also seized nearly Rs 94 lakh in cash from the arrested and 106 bank accounts with total deposit of Rs 24 crore have been frozen while a number of plots totaling more than 99 bighas, besides buildings, have been identified and necessary steps are being taken p for their attachment.