The state government has decided to extend the tenure of the Justice R K Patra commission probing into the alleged multi crore chit fund scam by six months to complete its investigation.
A notification to this effect will be issued very soon and the Election Commission's nod is not needed as it is a ongoing process and does not violate the Model Code of conduct, said an official in the home department.
This is for the second time that the tenure of the commission is extended. Set up in July last year, the commission, was asked to inquire into the activities of Ponzi companies including Saradha, Seashore, Artha Tatwa and others and submit its report in three months.
The commission has allowed chit fund company Prayag Infotech to return the money of the depositors. So far, the company has returned money to 18,596 depositors. In a related development, the Supreme Court on Wednesday has concluded hearing on a PIL (public interest litigation), seeking CBI probe into the multi-crore chit fund scam in Odisha, and reserved its judgment.
Recently, the Economic Offences Wing (EOW) of the state crime branch sought permission from the finance department to attach properties of two more firms embroiled in the chit fund scam.
The two shady financial operators whose properties are set to be confiscated are Aastha International and Green Ray International. The two companies are facing allegations of duping over Rs 500 crore belonging to depositors.
Earlier, the EOW had handed over documents of five financial entities - Flourish India, Saradha Group, Sastra Enterprises Pvt Ltd and Seashore Group to the finance department for attachment of properties.
A notification to this effect will be issued very soon and the Election Commission's nod is not needed as it is a ongoing process and does not violate the Model Code of conduct, said an official in the home department.
This is for the second time that the tenure of the commission is extended. Set up in July last year, the commission, was asked to inquire into the activities of Ponzi companies including Saradha, Seashore, Artha Tatwa and others and submit its report in three months.
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Sources said that the probe panel has received about one million affidavits and 194,578 affidavits have been verified.
The commission has allowed chit fund company Prayag Infotech to return the money of the depositors. So far, the company has returned money to 18,596 depositors. In a related development, the Supreme Court on Wednesday has concluded hearing on a PIL (public interest litigation), seeking CBI probe into the multi-crore chit fund scam in Odisha, and reserved its judgment.
Recently, the Economic Offences Wing (EOW) of the state crime branch sought permission from the finance department to attach properties of two more firms embroiled in the chit fund scam.
The two shady financial operators whose properties are set to be confiscated are Aastha International and Green Ray International. The two companies are facing allegations of duping over Rs 500 crore belonging to depositors.
Earlier, the EOW had handed over documents of five financial entities - Flourish India, Saradha Group, Sastra Enterprises Pvt Ltd and Seashore Group to the finance department for attachment of properties.