Chhattisgarh CM calls for action against managers, operators of unregulated chit fund companies

Chief Minister Bhupesh Baghel on Saturday gave directions to conduct a proper investigation and take appropriate actions against the managers and operators of the unregulated financial chit fund companies.

Chief Minister Bhupesh Baghel on Saturday gave directions to conduct a proper investigation and take appropriate actions against the managers and operators of the unregulated financial chit fund companies. In the cabinet meeting held on Saturday under the chairmanship of the Chief Minister, the cases registered against irregular financial (chit fund) companies were reviewed and the officials have been instructed to take swift action on the recorded allegations.

"Proper investigation is being conducted against unregulated financial (chit fund) companies in the state with the registration of 403 cases. With reference to the case registered in the Bilaspur Civil Lines, a total sum of Rs. 2 lakh 80 thousand has been returned," informed a government release. "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 falls under the Prize Chit and Money Operating Scheme Restriction Act 1978 and 90 cases fall under the section of Indian Penal Code," it read.

These registered cases include 379 cases against the director and 148 cases against the office-bearers. For the refund process, the property is being identified in a total of 154 cases and attachment action is being taken in these cases. 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 crores 83 lakh 39 thousand 436 rupees has been cheated from the people. (ANI)

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