PNS | Vijayawada
Additional DG, CID, N Sanjay has said that during the last three days of checks in 37 branches of Margadarsi Chit Fund Pvt Ltd across Andhra Pradesh, they have found many irregularities and for the first time they found ‘ghost subscribers’ by impersonating common citizens.
Addressing media persons on Sunday, Sanjay said that a large number of subscribers are turning up with complaints of non-payment of prize chit money and undue harassment for sureties which has necessitated the booking of FIRs at various police stations. He said that so far three FIRs were registered in Anakapalli, Chirala, and Rajahmundry.
The CID DG said that a person named Subrahmanyam claimed that though he never was a subscriber of Margadarsi Chit Fund and never deposited any amount, the company records showed that he participated in an auction in the Chirala branch in Bapatla district. The CID officials found that the company has fraudulently used Subrahmanyam’s Aadhaar details without his knowledge. A related video was also shown to the media during the presser.
Sanjay further said that in another case, an FIR was registered in Anakapalli town police station after receiving a complaint from Venkateswara Rao alleging Margadarsi has cheated him by paying only Rs 20 against an amount of Rs 4.60 lakh. In the third case, an FIR has been registered upon the complaint from Korukonda Vijay Kumar at Rajahmundry two-town police station.
In these cases, the branch managers were been arrested and they will be produced before the court for further action. He said that they had received over 100 complaints against Margadarsi and all those are being investigated before registering an FIR. He said victims of Margadarsi can complain through a WhatsApp number – 9493174065 from all over Andhra Pradesh.
V Rama Krishna IG, Stamps & Registrations said that for the last three days, they have conducted search operations against the complaints received from subscribers in 37 branches of Margadarsi Chit Funds in Andhra Pradesh and found many irregularities and a few incidents were found for the first time in their experience violating the rules and guidelines of Chit Fund Act. In a few cases, they found that the subscribers were lured and forced into a debt trap. In some other cases, one person was involved in dozens and dozens as chit subscribers.
