Odisha News Insight

Rose Valley Scam: Court directs Odisha Govt to refund Money to Investors

ONI Bureau: In a major relief to the small investors, the Special Chit Fund Court on Thursday directed the Odisha government to return the chit fund money of the investors of Rose Valley Ponzi Scam.

The State Govt will disburse a total fund of Rs 92.08 crore to as many as 2,38,477 investors who will allegedly duped by Ponzi firm Rose Valley Group of Companies.

As per the direction, the investors who had deposited of Rs 7,000 will get a total refund, while those who had deposited more than Rs 7000 and less than Rs 10000, will get Rs 7000 plus 50% of the amount invested above Rs 7, 000.

The refund will begin from panchayat level with identification of the genuine investors with the help of the Revenue inspectors.