MP HC Asks CBI To Probe Chit Fund Companies

Madhya Pradesh High Court’s Gwalior Bench here has directed the CBI to probe chit fund companies that are allegedly misappropriating crores of rupees.

The directives in this regard were issued by Justice S K Gangele and Justice Sheel Nagu on a PIL filed by a social worker, Dharamveer.

Dharamveer highlighted in his petition that the business of chit fund companies was spread across different states of the country and the Gwalior police was not competent to probe such a vast network.

He demanded that the probe into their activities be handed over to any agency which has pan-India presence and is capable of probing in any part of the country following which the bench directed CBI to investigate the matter.

From: http://ping.fm/PDYOX