Chhattisgarh to take back cases against agents of scam-hit chit fund cos

The Bhupesh Baghel government in Chhattisgarh has decided to withdraw cases against agents of chit fund companies which were registered in the last seven years.

Published on: Feb 8, 2019, 19:17:43 IST

By Ritesh Mishra

Prefer HTon Google

Share via

Copy link

The Bhupesh Baghel government in Chhattisgarh has decided to withdraw cases against agents of chit fund companies which were registered in the last seven years.

The government is also working on a policy to return the money of investors who were duped in chit fund scams during the erstwhile BJP government.

A cabinet meeting held on Tuesday evening approved the decision to initiate the process of taking back the cases.

Congress in its election manifesto promised that criminal cases against local youths who worked as agents of these chit fund companies will be taken back.

During its election campaign, the Congress had raised the issue of alleged chit fund scam worth Rs 5,000 crore and claimed it was committed under the protection of the Raman Singh government in the state. The party had promised to probe the alleged scam and take action against the guilty.

“As many as 286 agents were arrested between 2012 and 2018. Total 424 cases were registered in connection with irregular chit fund companies in the state in which about 2,70,616 investors had deposited around Rs 1,105 crore,” informed Taran Prakash Sinha, director, public relations, Chhattisgarh government.

A senior police official looking after the case said that around 200 chit fund companies were operating in Chhattisgarh in the last seven years and all of them are under scanner.

“The cabinet also discussed about the formulating a policy to return of money to investors, who were mostly villagers. The government will study the model of other states where investors’ money have been returned by the state and then formulate a policy regarding this,” said a senior official in chief minister’s office.

Meanwhile, the BJP alleged that Congress is misleading the people and has not given the exact date for returning the money of the villagers.

“In their (Congress) manifesto, they said that will return the money as soon as they will come in power and now Congress is saying that a policy will be made. Congress is misleading people and will not return the money,” BJP spokesperson Sachidanand Upasane said.

On allegations of BJP leaders being involved in the chit fund scam, he said it was BJP which made strict laws against chit fund companies in Chhattisgarh. “We have started an awareness drive due to which chit fund companies fled from state.”

ABOUT THE AUTHOR
Ritesh Mishra
Ritesh Mishra is the State Correspondent for Chhattisgarh with Hindustan Times. He reports on Maoism, internal security, politics, mining, governance, and major developments shaping the state. Based in Raipur, he has covered Chhattisgarh since 2016, reporting extensively from the Bastar region and other conflict-affected areas. With nearly two decades of experience in journalism, Ritesh has built a reputation for ground reporting from some of India's most challenging terrains. His coverage spans Left-Wing Extremism, counter-insurgency operations, elections, tribal affairs, environmental issues, infrastructure, mining, and socio-economic developments. He has reported on major security operations, policy initiatives, wildlife crime, and the changing dynamics of conflict and development in Central India. Before moving to Chhattisgarh, Ritesh spent eight years reporting from Madhya Pradesh, covering politics, administration, crime, development, and social issues. Throughout his career, he has reported on various forms of extremism in Central India, combining field reporting with in-depth analysis to produce accurate, balanced, and impactful journalism. Prior to joining Hindustan Times, Ritesh worked with The Pioneer and The Free Press Journal, where he covered a wide range of beats and honed his skills in political, investigative, and field reporting. His reporting is marked by exclusive stories, extensive fieldwork, and a commitment to factual, on-the-ground journalism that brings complex issues to a wider audience.Read More

Get the latest India News, breaking headlines and real-time updates from across the country. Stay informed about politics, government policies, crime, weather and major national developments.