SC not to monitor CBI Probe into Chit Fund Scam in Odisha

The Supreme Court has refused to monitor the CBI probe into the multi-crore chit fund scam in Odisha and gave more time to the investigating agency to to come up with a plan to ensure smooth and effective investigation into the case.

“We see no reason to allow the application (seeking court’s monitoring of CBI probe),” a bench of justices T S Thakur and C Nagappan ruled. The petition was filed by activist Alok Jena, who sought a court-monitored CBI probe into the ponzi scam, saying the probe has slowed down despite quick progress in the initial stage.

Solicitor General (SG) Ranjit Kumar and Additional Solicitor General Maninder Singh, had recently listed out the issues faced by CBI during the probe into chit fund scams in West Bengal, Odisha and Assam. Lack of skilled manpower has been the major concern for the CBI, which has been acknowledged by the apex court.

The bench also asked the CBI to probe larger conspiracy so that common depositors’ trust is restored. The apex court asked the CBI to devise a mechanism to take more help from the state police in Odisha, West Bengal and Assam while keeping tight control over the investigation teams that join the probe.