The Odisha’s High Court has ordered that the people who were cheated by the famous chit fund scam will get compensation on a first come first serve basis. The money of the investors will be compensated as early as possible.
A single bench comprising Justice Biswanath Rath passed the order on March 29 while hearing a petition by chit fund company GLP Developers Ltd and others. In their pleas, GLP Developers Ltd and others had earlier expressed willingness to repay money to the investors after facing hassles and untoward threats, assault on office bearers by incensed depositors.
After going through the details, the HC found the competent authority has already kept a sum of Rs 48,16,49,527 in its pocket.
“It is unfortunate to note that even after not finding any order of attachment through the CBI proceeding, instead of attempting to get concrete information on the claim of the Banks and taking steps as appropriate, unfortunately, the State Authorities have proceeded for recovery proceeding under the OPDR Act in an attempt possibly to wash their hands,” the court said.
