As per the notice, the said persons have been asked to be present at their residence/office on March 29 or March 31 or April 3 or April 6 and cooperate with the investigation.
Last November, Andhra Pradesh's Registration and Stamps Department said that there have been malpractices in the functioning of chit fund companies in the state and show cause notice would be issued to those who have violated the rules.
V Ramakrishna, Inspector General (Registration and Stamps Department) had said forensic auditing will be carried out in Margadarshi chit fund companies at a press conference.
The official had said that the
He had said the department conducted inspections at 12 chit fund companies on October 21, five organisations were inspected on October 31 and 18 units were inspected on November 15. He had said a total of 35 units have been inspected.
Ramakrishna had said that irregularities included using money borrowed through chit fund for "other purposes"
"We noticed that some are doing chit-fund business without regi
He had said inspections were carried out on November 15 at 15 units of
"Show cause notices will be issued to companies that have violated the rules, including the guidelines of the company. We will take further action after getting the reply to the show cause notices," he had said.
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