Investigation of Chit-Fund scam transferred to CBI

Supreme Court: In a major financial scam nicknamed as the ‘chit fund scam’ which has hit the States of Tripura, Assam, West Bengal and Odisha, involving approximately Rs.10,000 crores of general public money especially that of the weaker sections of the society, the bench of TS Thakur and C. Nagappan, JJ directed the transfer of cases for investigation to the Central Bureau of Investigation(CBI) from the State Agencies of the States of West Bengal and Odisha whereas the States of Tripura and Assam had already transferred related cases to the CBI. This move of the Court is after taking into account the sensitivity of the issues particularly inter-state ramifications of the scam, involvement of several political and influential personalities, the money trail not traced by the State agencies and also to ensure credibility of the investigation in eyes of the public.Subrata Chattoraj v. Union of India,. Writ Petition (Civil) No.401-402 of 2013 decided on May 9, 2014

 For the text of the judgment, click here