Three crores spent for Judicial Commission on Chit Fund within four years with no Result
After series of protests, Dharana and rally by innocent depositors under the banner of Arthika Sansthamananka Dwara Khyatigrasta Milita Manch ( ASSKM) across the state against fraud Chit Fund Companies promoted by BJD Govt. ( Chief Minister and other so-called high profile Ministers were brand Ambassador for few fraud companies like Seashore Company) and some unscrupulous individuals collecting public deposits by defrauding innocent depositors, the State Govt. constituted a Judicial Commission on 9.3.2013 to enquire into it and submit the report within three months.
The terms of reference of the Commission were as follows.
A. Indentify the individuals and entities who have indulged in unauthorised collection of public deposits in Odisha.
B. Probe and bring out involvement of influential persons , bureaucrats and other sections of the society, if any in protecting or promoting such illegal activities.
C. Suggest measures to safeguard the interest of genuine investors affected by recent incidents relating to unauthorised collection of public deposits and its misappropriation.
D. Suggest safeguard measures to ensure financial security for the genuine investors ad prevention of such problem in future.
E. Identify the bona fide investors affected by the unauthorised financial transactions of fraudlent financial establishments / companies and suggest the modalities for payment of compensation, names of the small investors eligible for compensation and the amount of compensation payable from the corpus fund set up by the Govt. for the purpose.
Sri Justice R.K.Patra, retired Chief Justice of Sikkim High Court was appointed as Chairman of the Commission on 9.7.2013. After his death, Justice M.M. Das was appointed as Commission of Inquiry on 20.2.2015.
RTI Application was filed to the PIO, Dept. of Home, Govt. of Odisha seeking information about functioning of the Commission, report , if any submitted by the Commission and details of expenditure made for the Commission. The information provided by the PIO, Dept. of Home and Commission of Inquiry on Unauthorised Collection of Public Deposits is as follows.
A. On 25.5.2016, the Commission has produced its first report to State Govt
B. On 3.2.2017, the Commission has handed over its second report to State Govt.
C. Total Expenditure ( from 2013-14 to 2016-17)
· Pay and allowance to Commission ad staff Rs. 1,99,64,298.00
· Electricity dues Rs. 2,15,481.00
· Telephone Charges Rs. 1,89,368.00
· Payment to OCAC for digitalisation of the affidavit Rs. 84,39,955.00
· Contingency Rs. 22, 75,532.00
Total Rs. 3,10,84,634.00
A. As per TOR, the Commission is required to submit the report within 3 months. But the Commission has taken four years to complete the inquiry.
B. Though four years passed, the Commission is yet to produce the final report.
C. Though the Commission has produced two reports, the State Govt. has not taken any steps on the Report.
D. More than 3 crores of rupees has been spent for Commission. But the innocent Depositors are yet to get justice.
E. This is the efficiency, efficacy of the State Government and their concern for poor depositors.