chit fund

A 38-year-old woman and her 13-year-old son were found murdered with multiple stab wounds and slit throats in their southeast Delhi home. Family members reported valuables worth Rs 50 lakh missing, including a recent chit fund payout. Police are investigating multiple angles, including robbery, and are trying to contact the family's missing domestic help.

Every adversity creates doubt. Here’s what happened to those who stayed invested and those who didn’t

A Hyderabad court has handed down the death penalty to Imran Ali Khan for the brutal 2023 revenge killing of an eight-year-old boy. The prime accused lured the child with chocolates before strangling him. An accomplice received a seven-year sentence for aiding in the disposal of the victim's body, a crime stemming from a financial dispute.

Goans have lost over Rs 500 crore in the last seven years due to fraudulent investment schemes, with the total potentially reaching Rs 1,000 crore. Chief Minister Pramod Sawant urged citizens to be alert and avoid schemes promising quick, doubled returns, emphasizing the need for financial literacy from educational institutions and banks.

Five years after Suvendu Adhikari handed TMC supremo Mamata Banerjee the most rankling defeat of her career, he is trying to prove it was not a one-off. And Mamata wants to show it was

A Bengaluru man's urgent mission to send Rs 50,000 for his mother's treatment turned into a nightmare when a seemingly helpful stranger defrauded him at an ATM. The accused, using a fake digital transaction, vanished with the cash, leaving the victim with a false assurance and a threat. Police are investigating.

A family of four attempted suicide due to mounting debts, resulting in two deaths and two critically injured. Preliminary investigations suggest financial distress from a chit fund business and a daughter's medical treatment led to the tragedy. The family recorded a video before the incident, citing pressure from lenders.

A 26-year-old man allegedly attacked his family, resulting in two deaths, due to mounting business debts and his sister's critical illness. He then attempted suicide. The incident, which occurred in Mallenahalli, saw his mother and sister die on the spot, while he and his nephew remain in critical condition.

A Bengaluru family's crippling debt and a daughter's critical illness led to a tragic suicide attempt. Two women died, while a man and a child are critically injured. A video message revealed the family's despair over lender pressure and financial ruin, possibly linked to a chit fund business and medical expenses. Investigations are underway.

Many retail investors feel that the present fall in the prices of these two banking and IT stocks is a good opportunity to buy. A classic value strategy or a satisficing behaviour to ensure the least regrettable outcome?

Beware of evolving financial scams disguised as attractive deposit or loan offers. Many use official fronts to defraud consumers. India faces a surge in such fraudulent schemes. The RBI's Sachet portal is a vital tool to verify financial entities' legitimacy, helping you avoid losses. Use it to check for registration and warnings before investing.

While the prevalent unregistered chit fund schemes always held the risk of getting cheated in Andhra Pradesh, the Covid-19 pandemic has increased the volatility of these monthly investment scheme with the state recording four instances of such schemes going bankrupt in July.

The Central Bureau of Investigation (CBI) on Friday arrested the municipal chairman of Halisahar Raju Sahani in connection with a chit fund case related to Sunmarg Welfare Organisation, officials said on Friday.

Consumer affairs minister Sadhan Pandey said that in the last few months the government had received many reports of their re-emergence in the business.

Countering West Bengal chief minister Mamata Banerjee’s claim that it had a role in the chit fund scandal in the state, the Centre has said state governments are responsible for regulating and registrations of such businesses.

The Delhi high court has quashed the Centre’s notification to levy service tax on chit fund business, saying the act of a foreman, who conducts auction of chit amount among contributors, does not fall under the definition of “service” provided in the Finance Act.

The District Consumer Disputes Redressal Commission-III, Hyderabad, has ordered Sai Veda chit fund Private Limited of New Nallakunta to pay interest on the chit amount and compensate a subscriber. The Commission also levied punitive damages for violations.

Four persons, who were caught in Odisha for running a Rs 230 crore chit fund scam earlier this year, were brought to the city on a transfer warrant and arrested by the economic offence wing of CID (crime).

Daughter-in-law of late Kannada actor Dwarakish, Varsha Rai, has been booked for allegedly assaulting a man with a broom after he sought his investment back from a chit fund run by her mother. Following this incident, three FIRs were registered against Varsha and her mother, Ratna Basavaraju, for allegedly cheating investors of approximately Rs 15 lakh.

Tightening the noose around chit fund companies in Indore, the district administration on Friday began investigation into the allegations against firms USK India Limited and Malwanchal India Limited for cheating depositors in the name of doubling money in five years.