A Parliamentary panel has recommended setting up of economic offences courts in every state to try cases of cheating of investors by fraudulent money-pooling schemes.<br/><br/>The Parliamentary Standing Committee on Finance, in its report on efficacy of regulation of collective investment schemes and chit funds, has also proposed to expand the scope of special courts provided for in the recently enacted Securities Laws (Amendment) Act to deal with such cases. The Committee, headed by former Law Minister Dr Veerappa Moily said such courts will not only lead to speedy and timely trial but also eliminate unnecessary overlapping of litigation. <br/><br/>He said, they will also check the volume and size of fraud by such operators.The panel recommend that the Department of Economic Affairs should monitor the follow-up action on ponzi companies by regulators and investigating agencies on regular basis and make necessary administrative arrangements for ensuring better enforcement.