Refunding investors' money now will hamper probe: CBI

Responding to a notice issued by the Judicial Commission probing the chit fund scam in Odisha, CBI on Tuesday said evolving a mechanism to refund investors? money at the current stage of the investigation would hamper the probe.

Cuttack: Responding to a notice issued by the Judicial Commission probing the chit fund scam in Odisha, CBI on Tuesday said evolving a mechanism to refund investors? money at the current stage of the investigation would hamper the probe.

The Commission, headed by Justice (retd) RK Patra, had last month asked for CBI's response to applications filed by chit fund companies wishing to return the investors money.

The companies have stated that since their bank accounts are now made inoperative and properties sealed by CBI, they are not able to refund the investors money.

“CBI in its reply has prayed for rejection of the chit fund companies applications,” Justice Patra said when contacted.