The Supreme Court of India on 13 February 2015 directed CBI to probe the role of Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI) in the multi-crore chit-fund scam. It has directed the CBI to investigate their role for effecting a mechanism.
The Supreme Court bench of Justice TS Thakur and Justice Adarsh Kumar Goel in its order said that these regulatory bodies cannot turn a blind eye to the multi-crore chit-fund scam spread across several states. The bench observed that it needs to be investigated and there is nothing which remains outside the scope of the investigation.
The bench in its ordered referred 9 May 2014 order in which it directed the investigating agency to probe the duping of over 10000 crore rupees through several ponzi schemes in West Bengal, Odisha and Assam.
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