Odisha Court Orders Auction Of Chit Fund Company’s Assets In Public
24 December, Bhubaneswar
In Odisha, a Special Chit Fund Court in Cuttack has passed orders for confiscation of the properties of chit fund company, GLP Developers Ltd.
The court yesterday, in its order, has asked the State government to sell properties worth Rs 87.48 crore belonging to the firm.
The Court also said the sale proceeds, which will come out of it, will be distributed among investors. The company had duped many investors promising them to give high returns on their investments.