More complaints filed against private finance firm

Image
Press Trust of India Chennai
Last Updated : Mar 17 2016 | 7:28 PM IST
A total of 68 depositors have lodged complaints so far against a private finance firm, whose top official was arrested in November last year on charges of cheating investors, police said today.
The complaints involing a sum of Rs 92.24 lakh have been lodged with the Economic Offences Wing of police against the Ayyan Promoters India Ltd, they said.
The company had mobilised the deposits promising attractive payouts but cheated them, the complainants said.
The number of depositors preffering complaints against the firm was on the rise, they said adding the case was under investigation.
On November 13, last year a case was registered under provisions of Tamil Nadu Protection of Interest of Depositors Act and IPC sections including criminal conspiracy, and cheating.
Subsequently, the managing director of the firm Vaitheeswaran was arrested and sent to judicial custody.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Mar 17 2016 | 7:28 PM IST

Next Story