Chit fund firm raided

PUDUCHERRY: Following a complaint by a customer, a chit fund firm was raided here, on Thursday. Tahsildar Ramesh, sub-inspector Raghupathy and district registrar raided the chit firm, owned by Umashankar, and seized a diary containing details of money transactions.On receiving a complaint, IG of police instructed the officials to probe the matter. The officials would further investigate into the matter to ascertain whether Umashankar had the required licences under the Money Lenders Act and Chit Fund Act.If there was any discrepancy regarding the same, necessary action would be initiated accordingly.