Special task force to investigate chit fund cases in Odisha
The team, which can take assistance of other law enforcing agencies if required, has been directed to probe the affairs of at least 57 chit fund companies in these four States. Official sources said, more such companies in other parts of the country may come under the purview of investigation gradually.
According to report, a number of organizations, who hoodwinked the people, were not registered as chit fund companies. These companies identifying themselves as multi level marketing organisations are doing business by creating different money circulation schemes, the report added.
Notably, there are 20 such chit fund cases in Odisha which are being investigated by the State crime branch.
In the wake of the West Bengal based Saradha group chit fund company going bust, the Union Ministry of Corporate Affairs decided to form a task force under SFIO to probe the affairs of such companies who have raised huge sums of money from the public at large.