Tirupur: The investors of a chit fund firm on Monday petitioned the District Collector in Tirupur seeking action against the owners of the chit fund firm for cheating them.
Tirupur: The investors of a chit fund firm on Monday petitioned the District Collector in Tirupur seeking action against the owners of the chit fund firm for cheating them.
According to the aggrieved petitioners, the proprietors of the chit fund company Vanjeshwari, Poongodi and Swaminathan had been operating the company for the past 10 years in Veerapandi, Tirupur. Many locals had deposited Rs. 50,000 to 5 lakhs in the company.
Recently, the owners had failed to return their investments and sold their personal properties for Rs. 85 lakhs and eloped. Despite lodging a complaint at the Veerapandi police station, the irked investors allege that the police did not respond well and initiated no action on the fradulent chit company owners.
Today, the investors located Angamuthu, an aide of the fradulent owners and entered into a scuffle with him. Later, the Veerapandi police pacified them.
The investors jointly petitioned to the District Collector, Palanisamy seeking arrest of the chit company owners and recovery of their money.
According to the aggrieved petitioners, the proprietors of the chit fund company Vanjeshwari, Poongodi and Swaminathan had been operating the company for the past 10 years in Veerapandi, Tirupur. Many locals had deposited Rs. 50,000 to 5 lakhs in the company.
Recently, the owners had failed to return their investments and sold their personal properties for Rs. 85 lakhs and eloped. Despite lodging a complaint at the Veerapandi police station, the irked investors allege that the police did not respond well and initiated no action on the fradulent chit company owners.
Today, the investors located Angamuthu, an aide of the fradulent owners and entered into a scuffle with him. Later, the Veerapandi police pacified them.
The investors jointly petitioned to the District Collector, Palanisamy seeking arrest of the chit company owners and recovery of their money.