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.