First sitting of the panel on chit fund scam on September 6th

Published: 05th August 2013 09:46 AM  |   Last Updated: 05th August 2013 09:46 AM   |  A+A-

The first sitting of Justice RK Patra Commission, which was set up to probe the multi-crore chit fund scam in  State, will be held on September 6.

A notification issued by the Commission on Saturday stated that any submission before it by persons acquainted with the subject matter (chit fund case) should be made in the form affidavit either in English or Odia within four weeks from the date of notification.

The affidavits should be duly sworn to before an executive magistrate or notary public and filed before the authorised officer of the Commission in its office at Special Branch Office Campus, Reserve Police Lane, Buxi Bazar, Cuttack.

“The affidavit should clearly indicate as to which paragraph of the affidavit is true to the knowledge of the deponent and which paragraph is derived from information received by him,” the notification said.

Affidavits not properly verified will not be taken into consideration by the Commission. Document, if any, on which reliance is placed in support of the statement contained in the affidavit should also be filed, it said.

After the ponzi scam rocked the State, the Government set up the judicial commission of inquiry headed by Justice Patra, retired judge of the Odisha High Court, on July 9. The terms of reference of the Commission is to identify the individuals and entities who are indulged in unauthorised collection of public deposits in the State.

The Commission will probe involvement of influential persons, bureaucrats and other sections of the society in protecting or promoting such illegal activities. The Commission will suggest measures to safeguard the interest of genuine investors affected by the unauthorised collection of public deposits and misappropriation of the money collected. It will suggest measures to safeguard the financial security of the depositors and prevention of such incident in future.

A couple of days back, thousands of investors duped by chit fund companies staged a demonstration at the Lower PMG demanding refund of their deposits and stern action against the scamsters.

The protestors also demanded that the Government should set up grievance cells across the State to receive complaints from the people affected by the scam.

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