Odisha Government decided to set up four designated court to hear Chit Fund case

Odisha Government decided to set up four designated courts where chit fund cases will be tried. The government has already framed rules as per the law and taken decision to establish four designated courts at Bhubaneswar, Balasore, Sambalpur and Berhampur.
The Odisha Protection of Interests of Depositors (in Financial Establishment) -2011 Act, which received the assent of the President of India on August 13, this year, empowers the state government to initiate punitive action against the offenders. 

Chief Minister Naveen Patnaik gives his nod to set up of special courts.
The new law has provisions for establishment of special courts where the chit fund fraud cases will be tried. The court would take decision about auctioning the property of the defaulted companies and issue guidelines about distributing the receipt among the investors.