CG Seizes Properties Of 17 Chit-fund Firms

Story Highlights
  • 25 crores will be available from the auction of 17 chit fund companies.
  • The collector has asked to auction all these properties in less than 3 months.
  • 3.19 lakh people have submitted their applications in District administration.

Raipur: Fourteen directors of chit fund companies, which collected huge amounts from investors, have been booked by Raipur police and the district administration has traced the properties of 17 such companies. Action is being taken to auction these properties and return the money to the investors.

District administration has received 3.19 lakh applications from the investors of chit fund companies in the district. Online entry has been completed by scrutinizing these applications at the district level. Information about chit fund companies and their assets is also being collected from other districts and states including Raipur.

As soon as the information about the properties is received, action will be taken to auction them. As per Raipur police, auctioning of properties of 17 chit fund companies has started and out of auction process more than Rs 6 crore received from four companies under the provisions of the Protection of Interests of Depositors of Chhattisgarh Act 2005.

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