Proprietors of Tiruppur-based chit firms get 10 years rigorous imprisonment for cheating investors

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The convicts cheated 130 investors of ₹80,57,861; tribunal imposes good of ₹93,80,000 connected the two, which should beryllium paid to the investors arsenic compensation

Published - April 16, 2026 06:12 p.m. IST - COIMBATORE

The peculiar tribunal for the proceedings of cases nether the Tamil Nadu Protection of Interests of Depositors (TNPID) Act successful Coimbatore connected Thursday (April 16) sentenced the proprietors of a chit steadfast to 10 years of rigorous imprisonment (RI) for cheating 130 investors of ₹80.57 lakh.

Special Judge M.N. Senthil Kumar awarded the punishment to L. Dharmalingam and P. Ganesan of Tiruppur.

Published - April 16, 2026 06:12 p.m. IST

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