Mudedla Venkateshwarlu has been running Kalpavalli Associates for a few years now
The police registered the case and started an investigation. (Representational image/DC)
Hanamkonda: A private chit fund company promoter fled Warangal, from where he operated his business, with an overall booty of approximately Rs 30 crore.
Mudedla Venkateshwarlu has been running Kalpavalli Associates for a few years now. It had around 900 members, who invested in chits ranging from Rs 1 lakh to Rs 25 lakh. Around three days back he informed his neighbours in the labour colony that the family was going to Tirupati.
However, the chit company members received a shock on Monday when some of them received IP notices from Venkateshwarlu. They rushed to the police station and lodged a complaint against him.
The police registered the case and started an investigation.
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