Over a month after the chit fund scam surfaced, Chief Minister Naveen Patnaik on Thursday broke his silence over the issue by stating that the State Government is taking it very seriously.
“Of course we are taking it (the scam) very seriously,” the Chief Minister said when asked about alleged involvement of ruling Biju Janata Dal (BJD) leaders in the scam. He, however, pinned his hope on the Presidential assent to the Odisha Protection of Interest of Depositors (in financial establishment) Bill, 2011.
“I think the Presidential assent to the Bill will give some relief to the investors in future,” Naveen said after returning from his 4-day visit to New Delhi.
The Chief Minister had written to Union Home Minister Sushil Kumar Shinde seeking his intervention for an early Presidential assent to the Bill to protect the interests of the depositors. “In view of the urgency, I am drawing your personal attention for expediting Presidential assent to the Odisha Protection of Interest of Depositors (in financial establishment) Bill, 2011,” Naveen said in the letter.
The Bill was passed in the Assembly on December 17, 2011 and sent to the ministry of home affairs on April 3, 2012. The home ministry had sought some clarifications from the State Government on the Bill on December 27, 2012.
The reply was submitted by the State Government on April 2, 2013.
The provisions of the Bill contain extensive safeguards for protecting small investors from fraudulent financial entities.
Official sources said once the Bill gets President’s assent, it will be easy to liquidate the seized assets of the chit fund firms and refund the depositors’ money.