Siliguri, 23rd June: In a significant move to recover funds for victims of the Chit Fund scam, the SP Talukdar Committee, in collaboration with the Securities and Exchange Board of India (SEBI), has seized the office and parking premises of the Chit Fund Company, ANNEX, located in Ward No. 40 of Siliguri Municipal Corporation, under the directive of the Calcutta High Court. This action aims to auction the seized property and return the money to the defrauded investors.
According to reports, the fraudulent activities of the Chit Fund Company came to light in 2013, causing widespread alarm across Bengal. This scandal prompted around 100 Public Interest Litigations (PILs) from aggrieved investors. Addressing the grievances, the Calcutta High Court on December 23, 2015, constituted a committee led by retired Justice SP Talukdar. The committee was tasked with investigating the fraud, seizing the company’s assets, and auctioning them off to compensate the victims.
As a result, SP Talukdar Committee in a joint operation with SEBI has taken decisive action to auction the assets of the Chit Fund Company, ANNEX. Notices regarding the auction have been prominently displayed at the seized premises.