Another chit fund firm under lens

Deepender Deswal

Tribune News Service

Hisar, September 23

Another chit fund company has come under the scanner.

The police have sealed the bank accounts of Trade Mart Private Limited which has raked in about Rs 50 crore in just two months in Hisar, Sirsa, Jind and Fatehabad districts.

A police team would visit Badal village in Bathinda district of Punjab on Monday in connection with the investigation as the mastermind of the alleged fraud firm – Amit — is reported to be employed in a bank in Badal village.

The police have arrested Anand Pal, father of Amit, who is the CMD of the firm registered with the Registrar of Companies on June 26.

Anand Pal, a Class VIII passout, was working as a salesman at a petrol pump in Narwana town of Jind district till about three years ago.

Sources said that he left the job after his son landed a job as an assistant manager in a nationalised bank. They, with the involvement of 7-8 confidants, decided to launch the chit fund firm.

A police official said, “The bank account of the firm in Central Bank of India here has the highest accumulation of Rs 10 crore. The bank account book has 2,000 pages of transaction in just two months. We have sealed the accounts in the Central Bank of India branches in Hisar and Badal village in Bathinda district of Punjab which have nearly Rs 2.25 crore.”

They went into hiding after the chit fund fraud by the Future Maker came to light fearing action on them as well, he said.

The official maintained that much of their transaction was in cash. “It seems that the accused have invested the money in cash in real estate and other trades outside Haryana. We have sought property details of the accused from the state revenue office,” he added.

Civil Lines SHO Narender Singh said the accused would be taken to Punjab, Rajasthan and other places in Haryana during the four-day police remand granted by the court on Saturday.

CMD arrested 

• The police arrested Anand Pal, the CMD of the firm that was registered with the Registrar of Companies on June 26. 
• Anand Pal, a class VIII passout, was working as a salesman at a petrol pump in Narwana town of Jind district till about three years ago.
• Sources said that he left the job after his son landed a job as an assistant manager in a nationalised bank. 
• They, with the involvement of 7-8 confidants, decided to launch the chit fund firm.