The Crime Branch (CB) will commence a preliminary probe into allegations that a private financial firm near Karakkonam has defrauded many thousands of people of their savings.
According to A. Hemachandran, Director General of Police (Crimes), a team led by Anil Kumar, Dy.SP, Economic Offences wing, will conduct the preliminary probe into the issue.
The investigation is being undertaken on the basis of a petition sent to State Police Chief Loknath Behera by the investors of Nirmal Krishna Nidhi Ltd.
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Scores of investors laid siege to the Parassala-Karakkonam stretch of the National Highway-66 and took out a demonstration to the headquarters of the company at Mathempala in Palukal on Saturday.
Investors in the chit fund company were shocked to find a legal notice, pertaining to an insolvency petition filed by the main promoter K. Nirmalan at the Thiruvananthapuram sub-court, pasted on the firm’s building a few days ago.
An action council of investors claimed that over 13,600 investors from Kerala and Tamil Nadu had deposited over ₹500 crore in the company under various schemes.
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Among them were many people from Parassala, Vellarada and Kunnathukal in Kerala.
While the promoter reportedly claimed in the insolvency petition that the company was in possession of properties worth ₹300 crore, the protesters alleged that he had transferred many of his properties to his relatives a few months ago. They claimed that Nirmalan had ‘benami’ properties too.
Joint probe sought
While the protesters demanded that the Kerala and Tamil Nadu police forces undertake a joint probe in the issue, the former has maintained that the case came under the jurisdiction of the latter and that all information and complaints would be shared.