Duped investors of Rose Valley chit fund allege irregularities during refund

Banki: Duped investors of Rose Valley chit fund have alleged irregularities in the refund process which was initiated by the State government for small depositors with deposits less than Rs 10,000.

Some depositors in Banki block under Dampada Tehsil of Cuttack district alleged that they were refunded way less money than what they had deposited. Raising the issue, some people staged a protest in front of Dampada Tehsil office today demanding investigation into the matter.

"I had deposited Rs 5000 and I am not sure if I will get my full amount back or not," said a depositor Basanti Sethi.

An agent of Rose Valley chit fund Santosh Kumar Sahu said "I had deposited Rs 2550 on behalf of a lady but only Rs 170 has been refunded. They are making huge deductions."

On the other hand, the local Tehsildar said that steps will be taken only after the complainants are submitted with proper documents.

Tehsildar Sunita Jena said, "In case of any ambiguity we are forwarding their applications. Later if there are any more instructions from the government we will act accordingly. Some people may not have submitted required documents which is why they have not received the complete amount.”