Cuttack, March 27: The Justice R.K. Patra Commission has received proof of money refund to investors in Odisha by a Bengal-based deposit collection company allegedly involved in unauthorised collection of public deposits.
“Prayag Infotech Hi Rise Limited has submitted evidence that it has started refunding money to investors and has already returned over Rs 32.56 crore to 18,596 investors from Odisha,” Justice Patra told The Telegraph today.
“The Commission had asked the deposit collection company to submit periodic reports with evidence of refund of money to investors after it had sought permission to refund money,” Patra said.
“Another deposit collection company – Rose Valley Hotels and Entertainment Ltd — has also been given the same direction after it sought permission for refund of money to investors,” he said.
Chief minister Naveen Patnaik had avoided a CBI inquiry and appointed the judicial commission on July 9 last year following flak from the Opposite parties following a spate of cheating cases involving deposit-collection companies.
The commission was asked to submit its report within three months. Later the government had granted it a six-month extension.
The commission had received around eight lakh affidavits concerning unauthorised collection of public deposits in the state. So far, notices have been issued on the basis of 101 affidavits out of the 1,52,187 verified so far, a source in the commission said.
The commission is expected to identify the individuals and entities who have indulged in unauthorised collection of public deposits in the state and to probe and bring out involvement of influential persons, bureaucrats and other sections of the society, if any, in protecting or promoting such illegal activities.
The terms of the commission also includes suggesting measures to safeguard the interest of genuine investors affected by the recent incidents relating to unauthorised collection of public deposits and misappropriation, along with safeguard measures to ensure financial security to the genuine investors and prevention of such problems in future.
