Three more years to identify all affected investors in multi-crore chit fund scam

CUTTACK: Justice MM Das Commission of Inquiry, which is probing the multi-crore chit fund scam, on Tuesday submitted its sixth interim report to the State Government.

Speaking to media persons, Justice Das said 50 per cent of the affected investors have already been identified. The process of identification of the large investors would be started after completion of identification of small investors. It will take two to three more years to complete identification of all investors, he said.

“Around six lakh more depositors have submitted their affidavits during the extended time period from November 13, 2018, to January 31, 2019. We have asked for their digitisation after which the affidavits will be examined,” Justice Das said.

The Commission has also recommended the State Government for refund of invested money to the identified small investors. A total of 229 people have got back their invested money during the course of sixth phase inquiry, sources said.

So far 3,61,817 small investors have been identified while a total of 1,714 investors have been paid back their deposited money. In the sixth report, the Commission has identified 1,43,463 small investors after examining 2,24,253 affidavits of investors of 522 chit fund companies.

As many as 23,488 depositors have been cheated by Kolkata Wire Industries Limited, 15,888 by Basil International Limited, 9,044 by Flourish Development India Private Limited, 6,812 by Green Ray International Limited, 4,942 by Saradha Group, 4,229 by Seashore Group, 4,353 by Navajyoti Realty India Limited, 2,186 by Aastha Group, 2,800 by Sedil Development India Limited and 2,028 by Ashore Group.