Bill to curb fake chit-fund companies
Jaipur, September 23
The Rajasthan Government yesterday approved an ordinance to curb the fake and mischievous activities of private chit fund companies, and proposed to set up a designated court to deal with such legal cases.
The Rajasthan Protection of Interest of Depositors (in financial establishments) Ordinace-2016 was approved in the Cabinet meeting chaired by Chief Minister Vasundhara Raje.
A designated court to deal with such cases would be set up in the direct supervision of District Judges, and the collectors would also be empowered to take action and seize the property of fraudsters and assess loss of depositors, the minister said. — OC
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