HC seeks details of investors from chit fund firms
Jul 23, 2013
Source : The Pioneer


BHUBANESWAR: The direction came from a Division Bench of the HC comprising Chief Justice C Nagappan and Justice Indrajit Mohanti. The Bench is adjudicating a batch of petitions filed by several chit fund companies urging the court to direct the Crime Branch to allow operation of their frozen bank accounts.

Six companies, GLP Developers Ltd, Golden Land Developers, Micro Leasing and Financing Company, Micro Finance Ltd, Basil International and Green Ray International, have moved the High Court alleging that they are not able to return money to the investors ever since the Crime Branch seized their bank accounts.

The HC had directed the State Government to provide the case diaries of all the companies who have approached the court. While the Government has by now provided all the details of Green Ray International, it is yet to respond in the remaining cases.

Asking the Government to provide the case diaries of the remaining companies soon, the HC fixed next Monday for further hearing on the matters.


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