Odisha News Insight

Odisha: Hearing of Chit Fund Cases to be completed in 6 Months

Chit-Fund-OdishaBhubaneswar, 29th July: The Prosecution against chit fund cases booked by Odisha Crime Branch under Odisha Protection of the Interests of the Depositors Act (OPID Act) have been put to fast track with Chief Secretary Sri Gokul Chandra Pati taking a case wise review of various major cases in secretariat conference hall today.

Reviewing the progress of the cases, Chief Secretary advised the Competent Authorities and Special Public Prosecutors to expedite the hearing process of the pending cases in the designated courts as per the provisions of the Act so as to complete the hearing within 6 months. The special public prosecutors engaged for the cases in various districts have been asked to decide the matters relating to inclusion of the additional parties in the cases as per the provisions of the law and place it before the designated courts.

The Sub-Collectors have been directed to finalize the offset price of the attached properties within 7 days so that those can immediately be put to auction after due approval of the designated courts. It has been decided that attached properties be put to public auction through the central e-auction portal of MSTC.

Available information shows that as of now Economic Offense Wing of the State has initiated investigation under 190 financial establishments. Finance department has issued interim attachment orders against 19 companies. A total number of 21 cases against these financial establishments have been put to prosecution out of which attachments orders of 2 cases orders have been made absolute by designated courts.

Additional Chief Secretary Finance Sri R. Balakrishnan, Director General of Police Sri Sanjeev Marik, Principal Secretary Law Sri Bibhuprasad Routray, Additional DG Crime Branch Sri B. K. Sharma, Director Finance Dr Tapan Kumar Pradhan and Police Commissioner Sri R.P. Sharma along with senior officers from finance and police departments participated in the deliberations. The Competent Authorities and Special Public Prosecutors of 5 major districts also participated in the meeting over the video conference.

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