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Six chit fund employees booked for cheating investor

Press Trust of India  |  Thane 

An offence has been registered against six employees of a chit fund company for allegedly cheating an investor of several lakhs, police said on Thursday.

The alleged accused associated with Tripura Chits Pvt Ltd have been identified as assistant divisional manager Dharmaraj Nair, divisional manager Rajesh Babu Milil, branch manager Shankar Kabir, Mumbai region head Radish V R, chief managing director P V Krishna Prasad and K Sumanna, an official said.

According to the complainant, between March 2016 and 2019, he had invested Rs 14.50 lakh in the firm, for which the the company neither returned the principal amount nor paid him the interest on the investment.

An offence under sections 420 (cheating) and 406 (criminal breach of trust) rw 34 (common intention) of the Indian Penal Code has been registered against the accused at the Naupada police station, Thane city police PRO Sukhada Narkar said.

No arrest has been made in the case so far, she added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 28 2019. 20:00 IST
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