The police took up the investigation of the activities of the finance firm that closed down after collecting deposits from public. The company based at Nandikotkur with its braches in different places was believed to have mobilised deposits worth Rs. 20 crore.
The firm closed its office at Nandikotkur four months ago which caused concern among the depositors.
The firm employed agents to collect deposits from public and issued bonds. The agents expressed ignorance about the intentions of the operators of the firm and told the depositors that a few persons had vanished with the booty.
The police said a formal case would be registered after a complaint by the victims.