How to claim refund from chit fund scam scheme in Tripura

In a major step towards ensuring justice for victims of financial fraud, the Tripura government has launched a formal scheme to refund money to individuals duped by chit fund companies. 

The initiative, now officially notified in the state gazette, was presented before the High Court of Tripura during a hearing on a public interest litigation (PIL) on Tuesday.

The refund scheme was developed in response to directives from the High Court, with the government confirming that over Rs 10.78 crore has been recovered so far through the auctioning of assets seized from fraudulent chit fund companies.

During the hearing, amicus curiae Purusottam Roy Burman urged the government to widely publicise the scheme in both Bengali and Kokborok languages to ensure that victims across communities are informed. 

Advocate General Shaktimoy Chakraborty assured the court that the government is committed to disseminating the information through four prominent local newspapers, including a major vernacular daily.

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According to advocate Samarjit Bhattacharya, also serving as amicus curiae, victims must apply to their respective sub-divisional magistrates (SDMs) with necessary documents such as Aadhaar cards, bank passbooks, and proof of investment. 

In cases where the original depositor has passed away, legal heirs can apply for a refund by submitting the death certificate, PAN and Aadhaar cards, bank details, and other relevant documents.

The High Court, led by Chief Justice M S Ramachandra Rao and Justice M B Purakayastha, directed the state to ensure proper dissemination of the scheme so that all eligible depositors are aware of how to claim their refunds.

The next hearing on the matter is scheduled for August 8. Meanwhile, many victims have urged the state to identify and liquidate the remaining assets of defaulting companies to enable full compensation.

This initiative marks a significant turning point in Tripura’s fight against financial crimes and is expected to provide relief to thousands of small investors who lost their hard-earned money in fraudulent deposit schemes.