Chit Fund Organiser Serves IP Notice To Temple Panel
Temple committee listed as ₹10 lakh creditor in ₹1.80 crore fraud
An insolvency petition (IP) notice issued by a private chit fund organiser, reportedly involving dues of ₹1.80 crore, has also named the Goddess Chowdeswari temple committee at Yadiki over an alleged ₹10 lakh chit fund liability, raising eyebrows in Anantapur district.
Sources said P. Mohan of Yadiki had allegedly been running unauthorised private chits for several years. He reportedly collected money from investors by promising attractive returns and timely repayment. However, when investors sought their money, he allegedly failed to honour his commitments and became unavailable.
Victims later approached the police, alleging that they had been cheated in the name of unauthorised chits and investments. The IP notice reportedly listed several investors and showed a total liability of about ₹1.80 crore, including ₹10 lakh attributed to the Goddess Chowdeswari temple committee.
Dasari Narasimhulu said the temple committee had deposited the monthly chit instalments in the temple’s name to mobilise funds for additional development works.
The notice issued to the temple committee went viral on social media. Temple representatives sought stringent action against the organiser and steps to recover the amount, which they said was intended for temple development.