Chit fund

Cases of Fraud and Cheating by the Chit Fund Companies

˜Chit Fund™ companies indulging in cheating of investors are to be proceeded against under the Chit Funds Act 1982 and the Prize Chits & Money Circulation Schemes (Banning) Act, 1978 under which investigations are to be carried out by the State Police authorities. Giving this information in written reply to a question in the Lok… Read More

Tags: Chit fundCorporate Affairs MinistryFrench Section of the Workers' InternationalLok SabhaSachin PilotSecurities & Exchange Board of IndiaSFIOState Police

Ministry of Corporate Affairs – Special Task Force Constituted in the SFIO to Investigate

Special Task Force Constituted in the SFIO to Investigate The Affairs of Certain Chit Fund Companies The Ministry of Corporate Affairs has taken note of the misuse by certain Chit Fund Companies who have raised huge sums of money from the public at large. The State Governments are the appropriate authorities for regulation of such… Read More

Tags: Chit fundCorporate Affairs MinistryFrench Section of the Workers' InternationalKolkataSerious Fraud Investigation OfficeSFIOSpecial Task ForceWest Bengal

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