Over 50 chit fund firms served notice in Odisha

Odisha Sun Times Bureau
Bhubaneswar, Mar 12:

Following verifying the third phase affidavits, Justice Madan Mohan Das Commission served notice to over 50 chit fund firms in connection with the massive scam in Odisha.

The commission issued the notice to the chit fund firms including Basundhara Green Power, Alpine Fincorp, Micro Leasing & Funding, Milan & Milan International, allegedly involved in cheating the small investors, after verifying total 1,14,384 affidavits filed between September 2 and 12, 2013 in the third phase.

Earlier, the notice was served to AT Group, Seashore, Sarada, Astha Group of Companies and Rose Valley in the chit fund scam.

The hearing of the chit fund cases will take place in May and June this year.

The commission has directed the chit fund firms to make their stand clear on the deposits by the investors in their firms.

Notably, several chit fund firms’ directors have been arrested and lodged in several jails for allegedly duping the investors across the country.

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