Chit fund company owners on the run

Coimbatore: The rural police on Tuesday launched a search for owners of a personal chit fund company for thrashing two in their workers.

The accused have been recognized as Jashin Sekar of Papanaickenpalayam and M J Karthi of Ramanathapuram. According to police, the accused assaulted Hariharan and Joshuva when they wondered them about the non-payment of money to shoppers. The victims are beging treated on the Coimbatore Medical College Hospital (CMCH).


The company, started a year ago at Vadavalli, has about 40 shoppers. The shoppers had deposited from Rs 50,000 to Rs 50 lakh as per schemes, stated an worker of company.


He stated the corporate had promised the shoppers to provide a portion in their scheme amount after a couple of months of deposition. However, the cheques given by way of the corporate bounced. When shoppers demanded their money, the owners went underground, stated the worker.


After this, shoppers started to target workers of the corporate. Hariharan and Joshuva faced the owners and wondered them about the shoppers’ money. The owners took them to Karthi’s space and beat them up with plastic pipes and threatened them of dire consequences, the worker stated. Police have registered a case underneath sections 342 (punishment for wrongful confinement), 294 (b) (utters obscene words), 324 (voluntarily causing hurt by way of dangerous weapons) and 506(ii) (punishment for legal intimidation) of the Indian Penal Code (IPC).


Chit fund company owners on the run Chit fund company owners on the run Reviewed by Kailash on July 19, 2018 Rating: 5
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