By Bizodisha Bureau, Bhubaneswar, August 23, 2016 : Securities and Exchange Board of India (SEBI) on Tuesday served show cause notices to 13 persons including the ruling Biju Janata Dal Lok Sabha member Ramchandra Hansda, former Odisha legislators Subarna Naik and Hitesh Bagarti now in jail custody connection with the Nabadiganta chit fund scam.

SEBI also has served show cause notices to Ponzi firms Nabadiganta Capital Services Ltd and Rightmax International Ltd and their directors.

The SEBI’s notice has pointed out that these persons are involved in fund raising through ‘public offer of securities’. They have been served with show cause notices which clearly wants refund of money collected from investors.

SEBI has fixed August 31 as the next date for hearing on the matter. However, those served with notices can record their stand on the matter during the hearing.

Hansda, Naik, and Bagarti are currently in jail in connection with chit fund scam.