Chennai:
The Central Bureau of Investigation (CBI) searched four places in
Tamil Nadu on Monday in connection with its ongoing investigation into
a multi-crore rupee chit fund scam.
A CBI spokeswoman said that the raids were conducted at four places
in Tamil Nadu and four places in Odisha following a chit fund case
registered against the private company Rightmax Technotrade
International Limited.
The searches were carried out on the houses of V Lakhanaya and R
Venkatraman, both functionaries of the company, in Tamil Nadu. The
searches were carried out in three places in Pollachi and one in
Kurichi near Coimbatore, officials said.
The company, which launched its operations in Bangalore and spread its
networks to Odisha and Tamil Nadu has allegedly duped many investors.
Even Securities and Exchange Board of India (SEBI) barred the company
from doing any kind of business.
The Central Bureau of Investigation (CBI) searched four places in
Tamil Nadu on Monday in connection with its ongoing investigation into
a multi-crore rupee chit fund scam.
A CBI spokeswoman said that the raids were conducted at four places
in Tamil Nadu and four places in Odisha following a chit fund case
registered against the private company Rightmax Technotrade
International Limited.
The searches were carried out on the houses of V Lakhanaya and R
Venkatraman, both functionaries of the company, in Tamil Nadu. The
searches were carried out in three places in Pollachi and one in
Kurichi near Coimbatore, officials said.
The company, which launched its operations in Bangalore and spread its
networks to Odisha and Tamil Nadu has allegedly duped many investors.
Even Securities and Exchange Board of India (SEBI) barred the company
from doing any kind of business.
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