The Chhattisgarh Assembly has amended the law making the crimes committed by Chit Fund companies as non bailable.
The law has also made the advertisement of Chit Fund companies promising to double the income of investors as a punishable offence.
As per the provisions made , any company before starting work in a district will first inform the District Collector.
The District Magistrate has been made the Competent Officer and district court would be a special court with the District Magistrate having the power to confiscate properties of offenders.