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More Complaints Filed Against Private Finance Firm

The number of depositors preffering complaints against the firm was on the rise, they said adding the case was under investigation.

Published: 17th March 2016 08:49 PM  |   Last Updated: 17th March 2016 08:49 PM   |  A+A-

By PTI

CHENNAI: A total of 68 depositors have lodged complaints so far against a private finance firm, whose top official was arrested in November last year on charges of cheating investors, police said today.

The complaints involing a sum of Rs 92.24 lakh have been lodged with the Economic Offences Wing of police against the Ayyan Promoters India Ltd, they said.

The company had mobilised the deposits promising attractive payouts but cheated them, the complainants said.

The number of depositors preffering complaints against the firm was on the rise, they said adding the case was under investigation.

On November 13, last year a case was registered under provisions of Tamil Nadu Protection of Interest of Depositors Act and IPC sections including criminal conspiracy, and cheating.

Subsequently, the managing director of the firm Vaitheeswaran was arrested and sent to judicial custody.

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