By Nageshwar Patnaik in Bhubaneswar, February 7, 2015 :

The Central Bureau of Investigation [CBI] seems to have become calm after literally creating a storm in Odisha in the chit fund scam probe.

Will there be another round of storm or is CBI under pressure to go slow into the investigation it has began a few months ago against as many as 44 firms accused of running ponzi schemes in the state post the Supreme Court order is a million rupee question.

The premier investigating agency virtually hogged the headlines in the media sending shivers down the spine of the power-that-be. Many ruling Biju Janata Dal [BJD] politicians and bureaucrats came under the scanner for their role in the multi-crore scam.

The CBI narly caused panic and consternation among the powerful people by arresting BJD MP Ramachandra Hansda, former BJD MLA Subarna Naik and former BJP MLA Hitesh Kumar Bagrati on charges of criminal conspiracy, cheating and diversion of funds in their capacity as directors of Chit Fund Company named Nabadiganta Capital Services.  Since the apex court has a specific reference with respect to that company hence they showed some alacrity in arresting the trio.

The agency also arrested a powerful BJD MLA Pravat Tripathy for his alleged links with Artha Tatwa group. After that the CBI seems to have gone on a slow motion as only in five out of 44 entities, it could progress.

At least a dozen BJD MLAs, including some ministers, are under the CBI scanner for their role in facilitating the chit fund scam and there is every likelihood of the list expanding as the probe widens. CBI sources say some of them have already been served summons for questioning, but have been dodging the summons so far.

According to these sources, the state government has been trying to stall or derail the probe by refusing to part with documents sought by the CBI, Enforcement Directorate (ED) and even the Supreme Court appointed Special Investigation Team (SIT) to probe black money.

Nevertheless, the CBI has just began probing into the affairs of the Seashore Group – one of the biggest players in the scam with a whopping collections of an estimated Rs. 1500 crore. Now it is investigating the role of the state government in facilitating the Group to amass money illegally.

The state government is in a fix as it had signed nearly a dozen MoUs with the group, handing over the management of everything from government hospitals to tourist places. Chief Minister himself inaugurated the company’s first venture and also launched the Group’s television news channel, the now defunct STV, reinforcing the brand image of Seashore Group.

However, questions are being raised about the CBI and ED not bringing the powerful bureaucrats to book even after Arthatawa CMD Pradeep Sethy, and Sea Shore CMD Prashant Dash, made it clear that they have divulged the names of the some big leaders and senior IAS and IPS officers involved in the scam.

It may further be pointed that the preliminary charge sheet filed by the CBI in connection with the AT group which mentions the name of Justice L K Mohapatra, Chief Justice of Manipur High Court, for his alleged transaction with Arthatawa in relation to a land deal.

A section of media speculated that the Chief Minister has been able to strike a deal with the Mod government at the center to avert a CBI probe into the mining scam.

Patnaik is understood to have met Modi twice and a couple of occasions to Mr Arun Jaitley.  But surprisingly, after the CM’s tour to Delhi the CBI probe is moving at a snail’s pace has nearly stopped probing the scam despite the disclosure of the   name of Justice L K Mahapatra.

What is surprising most is that some of the suspects named in the diary of the accused have found place in prime minster office [PMO]. Mrs Anu Garg, who is now joint secretary in PMO for last two years as health secretary in the state government had signed partnership with a chit fund company in public-private partenership mode [PPP] mode with Seashore.

The ED has also gone slow with a few property attachments and without a single arrest. Ironically, the joint director, ED Himanshu Lal who is in charge of Odisha probing the Chit Fund scam is facing allegation of his involvement in the scam along with his IAS wife, sources added.

All these developments raise serious doubts in the minds of the gullible and poor investors who have been looted by the chit fund operators with active connivance with some of the big leaders and top bureaucrats.