IP Filed by Chit Fund Organiser

Published: 21st August 2014 06:00 AM  |   Last Updated: 21st August 2014 05:11 AM   |  A+A-

VIJAYAWADA: A 36-year-old woman, who runs a chit fund business in Old Rajarajeswaripet in the city, filed an Insolvency Petition here Wednesday, sending a wave of shock among the subscribers.

According to sources, Sk Naseema of Old Rajarajeswaripeta, in her petition, said that she was unable to return `54 lakh to her 37 customers as she faced losses in the business. The court referred the petition to the Kothapet police station for investigation, said Kothapet station house officer P Venkateswarlu.


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