The Jharkhand High Court Friday directed the CBI and Enforcement Directorate to place before it the progress report in the investigation into the chit fund cases by November 31.
Hearing a bunch of public interest litigations, Chief Justice Aniruddha Bose and Justice D N Patel also asked the SEBI what are the rules to return money of the investors in such cases and how the money can be returned to them.
The CBI informed the court that investigation is on and that there is delay as probe is being done into several companies.
The ED informed the court that probe is on.
The case pertains to chit fund companies allegedly promising people of several districts of Jharkhand that significant interest would be given on their investment. But the companies fled after taking the money.
The court had directed the CBI and the ED to investigate into the matter.
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The high court also imposed a ban on the owners and directors of Kolkata-based Falcon Group of Companies and Falcon Industries of India from selling or handing over their property.
The bench ordered that it is mandatory for them to take permission from the court before sale or handing over the property.
The court also asked to serve notices to the two companies to inform where they have invested the money of the investors.