Adilabad, August 5 (Telangana Voice)
In a major relief to victims of Kanakadurga Chit Funds, 93 investors from the erstwhile Adilabad district received cheques worth ₹2,34,59,991 during a programme held under the initiative of District Superintendent of Police Akhil Mahajan, IPS.
The victims had been waiting for years to recover their hard-earned money after the chit fund company failed to repay their investments. Based on complaints, a case was registered at Adilabad II Town Police Station, and a special police team was formed under the directions of the SP to investigate the matter. The accused was traced and arrested.
During the investigation, the accused agreed to repay the entire amount due to all victims. As part of the settlement, cheques amounting to ₹2.34 crore were distributed to 93 beneficiaries in the presence of the Sub-Registrar.
Speaking on the occasion, SP Akhil Mahajan urged the public to remain cautious of fraudulent investment schemes promising unusually high returns. He advised people to invest only in government-recognised banks, financial institutions and legally registered chit fund companies after verifying their authenticity and statutory approvals.
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The beneficiaries expressed heartfelt gratitude to the Adilabad District Police and SP Akhil Mahajan for registering the case, arresting the accused and ensuring the recovery of their long-pending investments.
Adilabad DSP L. Jeevan Reddy, Sub-Registrar Chandrasekhar, II Town Inspector K. Nagaraju, Kanakadurga Chit Funds Managing Director Tirupati Reddy, company representatives and others were present at the programme.
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