The petition stated that the company had allegedly collected more than Rs. 8 crores, claiming there will be double returns but had not returned their money even after their deposits had matured.
Tirupur: A company called Elfin in Mannarpuram, Trichy, owned by Raja (50) and Ramesh (45) announced a number of attractive schemes, such as high-interest rates and double payments in a short period of time in exchange for money deposited in their company.
People from many districts, including Trichy who have invested over Rs.1,000 crores in the company allege that the deposits have matured but the money has not been refunded to the depositors.
Many of the defrauded people have also lodged complaints with the Economic Crimes Division police.
In Tirupur, more than 50 people from Tirupur lodged a complaint with the Tirupur City Police Commissioner's Office following which four of the Elvin executives were arrested.
The owners Raja and Ramesh have reportedly gone into hiding. Agitated depositors say, “We deposited the money we had earned little by little. They refused to give us our money when it matured. The owner of the company, Raja has gone into hiding. It is doubtful whether we will get our money back. In Tirupur alone, more than 5,000 people have invested money in the company. Even now, more than 59 people have come to complain. Our money alone will be over Rs.8 crores. So, the police have assured us that they would take appropriate action and recover our money.”
People from many districts, including Trichy who have invested over Rs.1,000 crores in the company allege that the deposits have matured but the money has not been refunded to the depositors.
Many of the defrauded people have also lodged complaints with the Economic Crimes Division police.
In Tirupur, more than 50 people from Tirupur lodged a complaint with the Tirupur City Police Commissioner's Office following which four of the Elvin executives were arrested.
The owners Raja and Ramesh have reportedly gone into hiding. Agitated depositors say, “We deposited the money we had earned little by little. They refused to give us our money when it matured. The owner of the company, Raja has gone into hiding. It is doubtful whether we will get our money back. In Tirupur alone, more than 5,000 people have invested money in the company. Even now, more than 59 people have come to complain. Our money alone will be over Rs.8 crores. So, the police have assured us that they would take appropriate action and recover our money.”