Odisha plans courts to try chit fund cases

Odisha plans courts to try chit fund cases

The Odisha government is considering setting up special fast track courts for speedy and time-bound disposal of cases relating to the multi crore chit fund scam that has rocked the state.

The government will also be appointing special public prosecutors to take up chit fund related cases.

 The matter was debated at a high level official meeting recently convened by the State Finance Minister Prasana Acharya, an official in the finance department said on Wednesday.

The meeting was attended by top officials from the finance and home departments as well as representatives from the state police’s crime branch which is currently probing the mega scam.

The crime branch and the local police in different districts including capital city’ Bhubaneswar have already registered as many as 180 criminal and cheating cases against 85 chit fund companies operating in the state.

More than 170 people have been arrested so far in connection with the Rs 1500-crore scam, including top names like the Pradip Sethi, the chairman-cum-managing director of Artha Tatwa(AT) group, a controversial but well known state based private sector non-banking financial company(NBFC).

  The raids on chit fund companies and arrest of their officials are still going on across the state.

   The crime branch has already sealed the offices and other establishments of several chit fund and NBFC companies in different districts including capital Bhubaneswar. It includes an Odia TV news channel run by a tainted NBFC.

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