Bhubaneswar, Aug 23: Today show cause notices were served to 13 persons including BJD MP Ramchandra Hansda, former Odisha MLAs Subarna Naik and Hitesh Bagarti arrested in connection with the chit fund scam by the Securities and Exchange Board of India (SEBI).
The SEBI has also served show cause notices to Ponzi firms Nabadiganta Capital Services Ltd and Rightmax International Ltd and their respective directors. These notices contained that since the following people have their involvement in raising their funds through ‘public offer of securities’ therefore they will have to show cause and refund money those collected from investors. Aug 31 is decided to be the next date of hearing by the SEBI. The people to whom these notices have been served can record their stand at the time of the hearing.
The country’s securities market regulator has served notices to ten belonging to the Nabadiganta Capital Services Ltd and three belonging to the Rightmax International Ltd. Hansda, Naik, and Bagarti are currently behind bars for the Nabadiganta chit fund scam.
