Orissa HC directs Chief Secy to form ‘competent’ panel
CUTTACK: The Orissa High Court has expressed its reservation on the State government’s bid to return money to depositors duped by Ponzi companies only on the basis of responses received against applications invited by the competent authority.
The court wanted the identified list of depositors already submitted by the Justice Madan Mohan Das Commission to be also taken into consideration for release of the amount to the depositors. Accordingly, the court has directed the Chief Secretary to form a ‘competent committee’ to expedite the disbursal process.
The court was hearing the petition filed by GLP Developers Ltd seeking direction for the release of entitlements in favour of the identified depositors to prevent untoward situations like protest, gherao, and attacks on offices of chit fund companies.
The single-judge bench of Justice Biswanath Rath felt the petition involved a “serious allegation” that there had been non-payment of the dues to the identified depositors despite collection of huge amounts from the chit fund companies. The competent authority has already kept a sum of `48.16 crore.
He felt there is already an inordinate delay in the completion of identification of depositors and release of the amount when there already exists an identified list submitted by a Commission of Inquiry. The Justice Madan Mohan Das Commission had recommended the names of 4,97,844 investors eligible for compensation to the State government by July 2019.
“Looking to the involvement of a large number of beneficiaries, this court directs the Chief Secretary to form a competent committee for scrutiny and timely completion of the recognition process taking into account the submitted applications in comparison with the identified list of depositors already submitted by the Commission,” Justice Rath said in his order on March 29.
“Attempt may also be made to release amount involving beneficiaries keeping in view the availability of fund and maintaining first come first release basis”, the judge added. The matter has been posted to April 29.