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Odishatv Bureau

Bhubaneswar: The State government has started refunding money to small depositors duped in the multi-crore chit fund scam in Odisha. According to sources, as many as 350 investors were refunded around Rs 21 lakh today.

A total of 1,096 out of 2,306 small depositors in Balasore district have been identified for refund and will be getting their money in phases.

The refund process is being carried out under the supervision of the Balasore district collector, Ramesh Chandra Rout.

As per the guidelines of the Finance department we have transferred money to the accounts of 350 small depositors who had deposits less than Rs 10,000. The amount was released after Tehsildars sent certified copies of the indemnity bonds along with a copy of the bank passbooks of the identified depositors, informed Rout.

Balasore Additional Collector, Manas Kumar Padhi had earlier informed that the money will be distributed to the small depositors after securing indemnity bonds and the amount for this purpose has been released to the Tehsildars.

As per sources, the Justice MM Das Commission of Inquiry submitted four interim reports to the State government in which it has identified 1, 16,504 small depositors. Initially investors with deposits of less than Rs 10,000 will get the refund, regarding which the Finance department Secretary, in a letter, has already asked district Collectors to begin the process. The depositors have been identified on the basis of first two interim reports, added sources.

Earlier on may 1, Finance Minister Sashi Bhushan Behera had informed that the process of identification of small depositors has started and they will get back their money soon. While the Finance department has written a letter to the district collectors regarding the identification of investors and subsequent refund, barring Rose Valley Chit Fund, identification of investors of 16 more chit fund companies has not started yet.

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