Sachin Pilot, union minister of state for corporate affairs, admitted on Sunday that the government had received several complaints about the involvement of some political parties in running chit fund businesses but added that no proof had been found in that regard.

Speaking to reporters on the sidelines of a seminar in Kolkata, organized by Merchants Chamber of Commerce, Mr. Pilot said that the government had received complaints from several states, including West Bengal, Maharastra and Sikkim.

He stressed that the matter would be probed it the government received a specific complaint.

He noted that various agencies provide registration to companies running chit funds because the government currently lacked a proper regulatory system.

Mr. Pilot stressed that the new Company's Bill 2012, which would be in Parliament on Monday, would help in regulating as well as monitoring the various agencies that run chit fund businesses.

Speaking on the topic, he said, "By bringing this Bill, the government will fix the agency which will give registration to the chit fund companies."

Last week, CPM state secretariat member Gautam Dev had alleged that the government was supporting chit fund businesses in the state, where various companies had amassed around Rs 15,000 crore from small investors.