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Andhra Pradesh CID conducts searches at 7 branches of Margadarsi Chit Fund
Updated : 3 years, 1 month ago IST
"These search operations were undertaken as part of an investigation into the cases registered by AP-CID against seven branches of MCFPL under sections 420, 409, 120(B), 477(A) read with 34 IPC and Sec 5 of APPDFE Act-1999 and Sec 76, 79 of Chit Funds Act 1982," an official release stated.
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Andhra Chit fund scam: CID issues notice to Margadarsi chit fund chairman
Updated : 3 years, 2 months ago IST
Last November, Andhra Pradesh's Registration and Stamps Department said that there have been malpractices in the functioning of chit fund companies in the state and show cause notice would be issued to those who have violated the rules.
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Forensic auditing to be done at Margadarsi chit fund, errant companies wil
Updated : 3 years, 6 months ago IST
The official said the department conducted inspections at 12 chit fund companies on October 21, five organisations were inspected on October 31 and 18 units were inspected on November 15.
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