Centre asked Odisha to send detailed report on chit fund scams
Monday, June 03, 2013
Centre asked Odisha to send detailed report on chit fund scams
Bhubaneswar: Union Government has asked the State Government to carry out a fact-finding inquiry and present a detailed report on various Multi State Cooperative Societies (MSCSs) involved in the chit fund scams. 

In his communication to Secretary of Cooperation of the State Government, Director of Cooperation in the Union Ministry of Agriculture & Cooperation (MoAC) DN Thakur has directed to initiate probe into the scam by the Registrar of Cooperative Societies (RCS).

Acting upon this advisory, State Commissioner-cum-Secretary of Cooperation Bishnupada Sethi has asked the RCS to undertake investigation without wasting any time. The Union Government has also authorised the RCS to take whatever action as may be required to protect the interests of the depositors and members, who have been duped by the society and its promoters, including freezing the bank accounts.

This apart, the MoAC enclosing a list of 16 MSCSs registered in the State till May 28, 2013 has asked for a detailed report after carrying out the fact-finding inquiry to ascertain the operational status of these societies, taking into account their business operation, membership position, compliance with statutory provisions, etc.   
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