Chit Funds: SC issues Notices to Odisha, 4 Other States

While Naveen Patnaik-led BJD government has already started political campaign with developmental schemes and programmes ahead of the elections, the Chit Fund scam may bring some embarrassing things for it. Recently the Supreme Court’s notice to Odisha government shows improper investigation into the scam.

Odisha-chit-fund-scamThe apex court has issued notices to Odisha and four other states – Andhra Pradesh, West Bengal, Maharashtra and Gujarat – asking them to reply within four weeks whether they are willing to co-operate with the CBI in the chit fund scam.

The court’s direction came on a PIL seeking CBI inquiry into the multi-crore chit fund scam in which the investors have been cheated. The petitioner Alok Jena alleged that around 20 lakh families have been duped of around Rs 50 thousand crore by different chit fund companies in the state.

In the petition, Jena alleged that the Economic Offences Wing of the Crime Branch of Odisha Police raided offices of several chit fund companies as part of their investigation and arrested many. However, the main culprits are yet to be arrested. He sought CBI inquiry into the scam saying the state government is unable to investigate the matter in a proper way as many politicians, bureaucrats and media houses have alleged links in the scam.

Troubles might have started for the party after the arrest of Prashant Dash, the CMD of the Seashore Group, as the CM had inaugurated a news channel owned by the firm. Even the Seashore CMD was also awarded by Odisha’s Health, Cooperative and Tourism departments for the firm’s contribution to the development.

Later, AT Group CMD Pradeep Sethi revealed during interrogation that he had evidence that would expose some politicians and bureaucrats who had backed him.

Meanwhile, Congress alleged that the government’s inaction in the last four years allowed the fraudulent firms to dupe 20 lakh depositors.

Comments

comments

000-017   000-080   000-089   000-104   000-105   000-106   070-461   100-101   100-105  , 100-105  , 101   101-400   102-400   1V0-601   1Y0-201   1Z0-051   1Z0-060   1Z0-061   1Z0-144   1z0-434   1Z0-803   1Z0-804   1z0-808   200-101   200-120   200-125  , 200-125  , 200-310   200-355   210-060   210-065   210-260   220-801   220-802   220-901   220-902   2V0-620   2V0-621   2V0-621D   300-070   300-075   300-101   300-115   300-135   3002   300-206   300-208   300-209   300-320   350-001   350-018   350-029   350-030   350-050   350-060   350-080   352-001   400-051   400-101   400-201   500-260   640-692   640-911   640-916   642-732   642-999   700-501   70-177   70-178   70-243   70-246   70-270   70-346   70-347   70-410   70-411   70-412   70-413   70-417   70-461   70-462   70-463   70-480   70-483   70-486   70-487   70-488   70-532   70-533   70-534   70-980   74-678   810-403   9A0-385   9L0-012   9L0-066   ADM-201   AWS-SYSOPS   C_TFIN52_66   c2010-652   c2010-657   CAP   CAS-002   CCA-500   CISM   CISSP   CRISC   EX200   EX300   HP0-S42   ICBB   ICGB   ITILFND   JK0-022   JN0-102   JN0-360   LX0-103   LX0-104   M70-101   MB2-704   MB2-707   MB5-705   MB6-703   N10-006   NS0-157   NSE4   OG0-091   OG0-093   PEGACPBA71V1   PMP   PR000041   SSCP   SY0-401   VCP550  100-105  , 70-486   c2010-657   70-178   OG0-091   70-178   JN0-360   ICBB   1z0-808   300-075   200-125  , 70-346   000-017   JN0-360   350-050   1Z0-061   220-901   700-501   640-911   101-400   220-901   350-030   ITILFND   400-201   220-801   70-488   210-065   HP0-S42   350-080   102-400   70-417   70-270   3002   640-692   1Y0-201   AWS-SYSOPS   2V0-621   000-089   200-101   70-533   70-488   CAP   210-260   300-070   102-400   70-980   70-346   102-400   300-209   SY0-401