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Justice MM Das appointed as Chairman of Commission of Inquiry probing Chit Fund Scam

Feb 5, 2015 14:30 IST

The Odisha Government on 4 February 2015 appointed Justice Madan Mohan Das as Chairman of the Commission of Inquiry probing multi-crore chit fund scam in Odisha.

The post was lying vacant since 28 January 2015 after the death of Justice Radha Krushna Patra who was heading this one-man commission.

Justice Das is a retired judge of Orissa High Court and hails from a family of lawyers. Born on 5 February 1952, he is a Chemistry graduate from Ravenshaw College and post-graduate in Public Administration from Utkal University.

The One-man Commission was constituted in July 2013 following a number of chit fund companies vanished overnight after duping thousands of gullible investors to hundreds of crores of rupees.

In the first phase, commission had received about 5.5 lakh claims. Meanwhile, the State government began digitisation of chit fund claim documents received by the probe panel to expedite the refund of money to duped investors.

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