Under fire from the Opposition political parties, the State Government on Thursday decided to appoint a judicial commission to inquire into the frauds committed by chit fund companies and the role of influential persons, including politicians, in it.
The High Court will be requested to spare the service of a sitting judge of the High Court for the purpose, the Chief Minister’s Office (CMO) stated. The commission will be requested to submit its report within three months, it said, adding that it would inquire into the activities of ponzi companies including, Saradha, Seashore, Artha Tatwa and others. The terms of reference of the commission will be to find out the involvement of influential persons, including politicians, bureaucrats and other sections of the society, if any, in protecting or promoting fraudulent chit fund companies.
The commission will also suggest measures to safeguard the interests of genuine investors affected by the recent incidents relating to the chit fund frauds.
The commission will be requested to suggest safeguards for future to ensure financial security for the genuine investors and prevention of such problems in future, it said.
The Opposition Congress has termed the State Government’s decision to appoint a judicial commission as an eyewash and an attempt to hoodwink the people of the State.
“Knowing fully well that a sitting judge of the High Court cannot be spared for any commission of inquiry as per a Supreme Court judgment, the Chief Minister declared a commission of inquiry. His request to the High Court is only to buy time,” senior Congress leader and former law minister Narasingh Mishra said.
The past records of this Government shows that hardly any action has been taken on the report of the commission. While a number of judicial commissions have not submitted their reports in time, in other cases, the Government has violated the mandatory provisions of tabling the report in the Assembly within six month of their receipt, Mishra said.
BJP spokesperson Suresh Pujari said the Chief Minister is in the habit of constituting a judicial commission of inquiry whenever there is public anger against his Government. The Chief Minister has created an escape route for his ministerial colleagues and party men who were involved in the scam by opting for a commission of inquiry.