Odisha govt extends tenure of chit fund inquiry commission

 The Odisha government has extended the tenure of the Justice M.M. Das Commission inquiring into the chit fund scam for six months, said an official on Friday.

The tenure of the Commission was scheduled to end on August 4, a notification of the Home Department said.

"State Government extends the tenure of the Commission of Inquiry on unauthorised collection of public deposits for a further period of six months beyond August 4, 2019," tweeted the Home department.

Since its inception in 2013, the Commission has submitted seven interim reports to the government.

In its seventh interim report submitted last month, the Commission furnished the details of over one lakh small investors, who had invested less than Rs 10,000 in various chit fund companies.

The Commission recommended that the state government refund money to the small depositors duped by chit fund companies in the state. IANS