Tripura govt. will sell NBFC, chit funds’ properties to pay investors

Agartala, Sep. 2 (PTI): Tripura Chief Minister Biplab Kumar Deb said on Monday that the state government will sell the properties of NBFCs and chit funds after the disposal of cases against them and distribute the money among investors who had been deceived by the companies.

BJP had pledged that investigations against the chit funds and the non banking financial compnaies would be initiated and 83 cases have been registered after the BJP-IPFT government came to power in the state, he told the Assembly.

After disposal of the cases our government will sell the properties, including lands and buildings and the money from it will be distributed among the poor who were deceived by the NBFC and chit fund companies, the chief minister told the Assembly in reply to a question by Sudhangshu Das of BJP during question hour,

Deb said out of the 83 cases registered, the CBI had submitted chargesheets in respect of five of them.

The rest 78 cases are being investigated by the special investigation team. Four of them have been clubbed with similar ones and the number of cases now stood at 74.

Deb, who also holds charge of the the home department, said he had earlier in a letter requested Prime Minister Narendra Modi for CBI probe in all the 74 cases.

Tripura High Court had on August 22 ordered CBI to probe all the three cases against Rose Valley group of companies.

The chit funds and the NBFCs had allegedly defrauded large number of investors with promises of more than normal returns on their deposits.