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Andhra Pradesh
Crime watch
Five chit fund directors held
The Balanagar police on Thursday arrested five of the 11 directors of Sri Laxminarasimha Chit Fund located in Sumithranagar of IDPL Colony on the charge of duping depositors to the tune of Rs. 50 lakhs. Earlier, three depositors moved the court seeking return of their money. Based on court directions, the police registered a cheating case and arrested five of the directors. Six others are still at large.
Case against company
The Chatrinaka police registered a cheating against a private company on the charge of misappropriation of funds to the tune of Rs. 2,49,56,000 on receipt of a complaint from the Registrar of Companies, N.S. Ponnunambi, on Wednesday. The Registrar maintained that M/s Canara Credit Ltd. had misappropriated money and failed to show proper records, the police said.
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