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 fund, Corporate Affairs Ministry, French Section of the Workers' International, Lok Sabha, Sachin Pilot, Securities & Exchange Board of India, SFIO, State 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 fund, Corporate Affairs Ministry, French Section of the Workers' International, Kolkata, Serious Fraud Investigation Office, SFIO, Special Task Force, West Bengal
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