Key Points
HC demands clarity on state's non-cooperation with chit fund victim panel
Nandini Chakraborty to appear on February 20
Committee facing infrastructure and staffing challenges
Multiple Ponzi schemes impacted investors' funds
Chakraborty will have to appear at the division bench of Justice Joymalya Bagchi and Justice Gaurang Kanth on February 20 and explain the state government's observation on the accusations in the matter.
In wake of the mushrooming of chit funds or Ponzi entities in the state in the last decade, a committee, headed by a retired justice, was formed to ensure proper compensation for the victims losing crores of money by depositing in the multi-level-marketing schemes of such shady entities.
However, a case was filed of the Calcutta High Court accusing the state government of not extending cooperation to the said committee, especially as to making provisions for necessary infrastructure and filling up the post there.
The HC bench took the complaints quite seriously and observed that it was unfortunate that the vacant post in the committee had not been filled up and even the terms of officers appointed in the committee and whose tenures there had expired had not been extended.
The complaint is also there the state government is yet to give the clearance for fixing and paying the remuneration of the chairman of the committee.
The Calcutta High Court observed that such non-cooperation on part of the state government was especially unfortunate when the court itself took initiative of forming the committee only after getting assurance of full cooperation from the state government.
The court also observed that it is the prime responsibility of the state government to extend full cooperation to said committee in the matter for proper discharge of their functioning.
