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17 Apr 2024, Edition - 3200, Wednesday

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Coimbatore

Investors seek action against chit fund owner

Covai Post Network

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Coimbatore : A section of aggrieved investors today sought the intervention of the district administration and take action against a chit company for cheating the public of their money.

In a petition, the investors alleged that Kongunadu Annai Chit Private Ltd has taken money from the general public lakhs of rupees on the promise of paying with interest after maturity.

However, the owner was absconding and the company office closed for the last few days and in view of this the administration should take steps to trace the ‘fradulent chit owner’ and arrange to get money to the investors, they said in the petition submitted to the District Collector, T N Hariharan.

The people, particularly middle income group and average earners in and around Podanur, Malumichampatti and Kuniyamuthur have invested the money, it said.

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