Cuttack, Dec 13 (LocalWire): The Cuttack Special Chit Fund court on Thursday directed the Odisha government to refund Rs 92.08 crore to 2,38,477 depositors of Rose Valley chit fund company.
Initially, depositors, who had invested up to Rs 7,000 will get full refund. Those who had invested between Rs 7,000 and Rs 10,000 will get Rs 7,000 and 50 percent of the remaining amount as per the court directive.
The court directed to identify genuine investors at panchayat level through Revenue Inspectors (RIs) and deposit the refund in their bank accounts.
Notably, lakhs of people in Odisha were duped by various chit fund firms after depositing money in alluring schemes of the companies.