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Calcutta HC forms one-man committee to pay MPS Group depositors

Calcutta HC forms one-man committee to pay MPS Group depositors

The Calcutta High Court today formed a one-man committee of Justice (retd) S P Talukdar for returning money to depositors in the chit fund company MPS Group which allegedly duped investors.

Passing the order on a PIL filed by investors, a division bench of Chief Justice Manjula Chellur and Justice Joymalyo Bagchi formed the committee.

The bench directed that the modalities for setting up the committee, the number of staff it requires and other provisions would be finalised on Tuesday, the next date of hearing, as per the requirements of the committee.

It also directed the state government to provide the necessary infrastructure like staff and office premises, besides bearing the expenses, including the salaries.

The committee would identify assets held by the company to be sold and find modalities to repay the depositors.

( Source – PTI )


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