Chhattisgarh National State

A total of 403 cases registered against chit fund companies

Investors to heave a sigh of relief in Chit fund fraud scam A total of 403 cases registered against chit fund companies
Impoundment investigation is being done in 154 cases

Raipur 25 nov 2019/ As a major achievement by the state government, innocent depositors and victims of chit fund fraud heave a sigh of relief as the refund process has been initiated, as the investigation has started with full force against the owners of chit fund companies. Proper investigation is being conducted against unregulated financial (chit fund) companies in the state with the registration of 403 cases. Year wise statistics of the Cases reported against the unregulated financial companies:
In the year 2015, 74 cases were reported with approximately 623 crores of fraud amount, in 2016 the figure drastically increased to 123 with around 213 Crore of fraud, In the year 2017, 98 cases were reported summing an amount of 33 crores of fraud and in 2018, 54 cases were reported with 95 crores of fraud. Since 2019 Jan- Oct, a total of 54 cases have been reported with 293 crores of fraud. So, In total 403 cases have been reported since the year 2015 till October 2019 with amount of fraud crossing the limits of more than 12 Arabs impacting 3,62,570 people. With reference to the information received, in the cases filed since year 2015 till October 2019, 248 cases come under the Protection of Interests of Chhattisgarh Depositors Act 2005 and Rules 2005, 65 fall under the Prize Chit and Money Operating Scheme Restriction Act 1978 and 90 cases fall under the section of Indian Penal Code.
379 cases against director: 148 against office bearers:
These registered cases include 379 cases against the director and 148 cases against the office bearers. For the refund process, property is being identified in a total of 154 cases and attachment action is being taken in these cases.
More than 3 lakh innocents cheated:
According to figures, 3 lakh 65 thousand 570 people have been cheated in the total 403 cases registered since 2015 till October 2019, in which approximately 12 billion 59 crore 83 lakh 39 thousand 436 rupees has been cheated from the people.
Refund process for the innocent investors has been initiated.
Chief Minister of the state, Mr. Bhupesh Baghel has given directions to conduct proper investigation and take appropriate actions against the managers and operators of the chit fund companies. He further added saying, to take back the cases registered against the agents of these companies.
At present, the government is taking prompt and swift action to return the fraudulent money to the innocent people keeping their difficulties and aspirations in mind. Apart from this, stringent action is being taken against the operators of the chit fund companies.
State capital records the highest number of cases:
Raipur has recorded the highest number of 52 cases registered against unregulated financial companies (chit fund fraud) out of the total 403 cases. Similarly, 39 cases have been registered in Durg, 30 in Rajnandgaon, 29 in Sarguja, 26 in Bilaspur and 25 in Raigarh. 20-20 cases in Bemetra and Balod, 19 cases in Janjgir-Champa, 18 cases in Kanker, 17-17 cases in Korba and Balodabazar, 15 cases in Mahasamund, 14 cases in Dhamtari, 13 in Surajpur Case, 12 cases in Korea, 11 cases in Kabirdham , 6 cases in Jashpur, 5 cases in Dantewada , 4-4 cases in Bastar and Balrampur , 2-2 in Gariaband and Mungeli district Rkrn and Bijapur, one case has been inregistered in Sukma and Kondagaon district.

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Mazhar Iqbal #webworld

Indian Journalist Association

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