Govt extends chit fund Commission’s tenure

CUTTACK:  The Government on Saturday extended the tenure of Justice MM Das Commission, probing the multi-crore chit fund scam in the State by six months. In a notification, the Home Department stated that the tenure of the Commission, which was scheduled to end on Feb 4, 2019, has been extended till August 4.

Last month the probe panel wrote to the Government seeking extension of its tenure following which steps were taken to look into the demand.On July 9, 2013 the State Government had constituted a one-man commission headed by Justice RK  Patra for verification and return of deposits collected by different chit fund companies and suggest steps to prevent such scams in the future.

Justice MM Das took over the inquiry on February 5, 2015 following the death of Justice Patra.The Commission, which has so far submitted five interim reports and identified lakhs of small investors, is preparing for submission of its sixth interim report to the State Government in the current month.

Time line
Tenure of the Commission, which was scheduled to end on Feb 4, 2019, has been extended till August 4
On July 9, 2013 the State Government had constituted a one-man commission headed by Justice RK  Patra
Justice MM Das took over the inquiry on February 5, 2015 following the death of Justice Patra
The Commission is preparing for submission of its sixth interim report to the State