Business Standard

Chit fund probe panel seeks six months extension

Sources say R K Patra commission has received about 6,00,000 affidavits as on Sept 28

Jayajit Dash Bhubaneswar
The Justice R K Patra commission of inquiry, constituted to probe illegal collection of money by chit fund companies has sought an extension for six months for completing its investigation.

The one-man commission has written to the state home department to extend its tenure.

Sources said, the commission has received about 6,00,000 affidavits as on September 28 and urged the state government to appoint three lawyers for scrutinizing the affidavits. With the increasing number of affidavits already received, the commission's tenure has been extend four times.

The commission, formed in July this year, was asked to submit its report in three-months time. It would inquire into the activities of ponzi companies including Saradha, Seashore, Artha Tatwa and others that have duped unsuspecting investors by promising them unrealistic returns on their investments.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 18 2013 | 7:25 PM IST

Explore News