: Dubious financial firms and chit fund companies are still running business in Odisha because of slack of enforcement of law, alleged members of Chit fund Khyatigrasta Jamakari Sangh (CKJS), an organization of depositors conned by dubious financial firms in Odisha.
During a meeting of the organization in the city on Sunday, its members demanded the state government to tighten the noose of law around dubious finance firms that usually change their names in few years to continue their duping of depositors. They alleged that some dubious firms are still operating in various parts of Odisha and few new ones have also started luring gullible depositors.
As per the CKJS, it is high time for government to come up with some strong law to completely end nefarious activities of dubious financial firms or chit fund companies. “Otherwise government should become guarantor of all depositors who invest in these firms allowed to operate by the government,” they said.
Their other demands included identification of all duped depositors in the state as early as possible. They also wanted government to increase the proposed repayment amount to duped depositors up to one lakh rupees. According to CKJS members, government is now planning to repay only small depositors of these chit fund companies, who had deposited up to 10,000 rupees.
