Odisha extends chit fund inquiry commission tenure

Bhubaneswar, July 31 (IANS) The Odisha government has extended for six months the tenure of Justice M.M. Das Commission inquiring into the chit fund scam, said an official on Tuesday.

The extended tenure will be from August 5, a notification issued by the state Home Department said.

Since its inception in 2013, the Commission has submitted five interim reports to the government.

So far, it has managed to identify over two lakh small investors. The Commission had issued notice to 486 chit fund companies, an informed source said.

The state government had set up a Rs 300-crore corpus fund in 2013 to refund the money of small depositors who had invested Rs 10,000 or less in the chit fund companies.

The Commission, among other things, was asked to suggest as to how the small investors would get back their money from the corpus fund of Rs 300 crore.

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