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Investors in chit fund should get justice

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Investors in chit fund companies should get justice from the Chit fund operator says, BJP MLA, Dillip Ray. The judicial panel set up to probe the Chit fund scam has submitted its interim report. The report is said to have been based on the affidavits of only 26.976 persons whereas 8 lakh people have filed affidavits. Whatever may be the findings of the report, it should be ensured that the investors who were duped by the Chit fund operators get justice. The lengthy process of investigation and a perception amongst the public about the government’s reluctance to widen the scope of the probe to bring under its purview-the role of politicians and bureaucrats-may reduce the confidence of the people.

The commission was set up in 2013 with a mandate to probe role of influential persons protecting and promoting chit fund activities and to recommend how investors could get back their money. But after three years only the case of a small fraction of investors has been taken into consideration. It was the responsibility of the government to provide adequate staff and infrastructure to the commission so that investigation could be completed in due time. But despite frequent requests by the commission, adequate facilities were not provided. It is not certain if the interim report contains name of any influential persons who were complicit or patronized the scam. Recommendations to safeguard the interests of the public are good, and it depends upon how seriously the government wants to prevent further recurrence of such incidences. However it has to be equally ensured that the persons who pivoted the massive scam are brought to justice. I hope the government will take up all measures to enable presentation of the full report after taking all the affidavits into consideration, punish the guilty and ensure refund of money to the investors.

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