Hyderabad: Chit fund firm booked for cheating depositors

Hyderabad: The Marredpally police booked a case against Bhavani Chit Funds Private Limited on charges of cheating depositors. The company located in Marredpally had reportedly collected huge amounts from depositors and later shut down operations recently. On coming to know about it, several depositors visited the office of the company in the last couple of […]

Hyderabad: The Marredpally police booked a case against Bhavani Chit Funds Private Limited on charges of cheating depositors.

The company located in Marredpally had reportedly collected huge amounts from depositors and later shut down operations recently. On coming to know about it, several depositors visited the office of the company in the last couple of days. Based on a complaint from a victim, the police booked a case under various sections of the Indian Penal Code and the Telangana Protection of Depositors of Financial Establishment Act. So far 28 victims have approached the police.

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