The CBI on Monday told the Supreme Court that it is “not possible” for it to investigate all the complaints of private investors against the chit fund firms in West Bengal and other states and the state CID may be asked to probe such cases.
The agency said that it has taken over probe against companies which has paid up capital of Rs50 lakh, prompting the Apex Court to say that it shows it is only “investigating bigger companies and not the small ones”.
“Number of under-investigation (UI) cases which have not been taken over by CBI in West Bengal is 393 and they relate to complaints of private investors for refund of deposited money to the tune of Rs 1 to Rs 5 lakh. State CID may be allowed to continue with the investigation,” the Solicitor General told the court.
The agency said that it has taken over probe against companies which has paid up capital of Rs50 lakh, prompting the Apex Court to say that it shows it is only “investigating bigger companies and not the small ones”.
“Number of under-investigation (UI) cases which have not been taken over by CBI in West Bengal is 393 and they relate to complaints of private investors for refund of deposited money to the tune of Rs 1 to Rs 5 lakh. State CID may be allowed to continue with the investigation,” the Solicitor General told the court.