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A chit fund is a type of rotating savings and credit association system practiced in India, Bangladesh, Sri Lanka, Pakistan and other Asian countries. [1] Chit fund schemes may be organized by financial institutions, or informally among friends, relatives, or neighbours. In some variations of chit funds, the savings are for a specific purpose.
Saradha media group. The Saradha Group financial scandal was a major political scandal caused by the collapse of a Ponzi scheme run by Saradha Group, a consortium of over 200 private companies that was believed to be running collective investment schemes popularly but incorrectly referred to as chit funds [1][2][3] in Eastern India. [4]
Shriram Wealth. Shriram Properties. Website. www.shriramcapital.com. Shriram Group is an Indian conglomerate headquartered in Chennai. It was founded on 5 April 1974 by R. Thyagarajan, [3] AVS Raja and T. Jayaraman. [4][5][6] The group had its beginning in chit funds business and later on entered the lending and insurance businesses.
Anubhav Group. Anubhav Plantations was an Indian Chennai -based plantation company founded in 1992. [1] It sold shares in teak plantations on guaranteed interests and later diversified to other schemes through four principal companies: Anubhav Agrotech, Anubhav Green Farms & Resorts, Anubhav Plantations, and Anubhav Royal Orchards Exports. [2]
www.camsonline.com. Computer Age Management Services Limited (CAMS) is a mutual fund transfer agency serving Indian asset management companies. [2][3] The company was incorporated in 1988 and is headquartered in Chennai. It became publicly listed in October 2020, subsequent to an initial public offering (IPO) through an offer by its existing ...
Chit funds operate along similar principles, and the chit-fund association of India has estimated there are thousands of Indian companies that include management of kitty party funds as part of their services, although these companies tend to be interested only in higher value kitty party funds.
The 1992 Indian stock market scam was a market manipulation carried out by Mr Harshad Mehta and politicians on the Bombay Stock Exchange. That scam caused significant disruption to the stock market of India, defrauding investors of over ten million USD. Techniques used by Mehta involved having corrupt officials signing fake cheques, misusing ...
Geojit Financial Services Ltd. is an investment services company in India headquartered in Kochi, Kerala. [1][2][3] It operates a network of offices across India and the Middle East. [4] Geojit was the first company in India to launch online-trading facilities, develop franchise models of sub-broking, form joint ventures in West Asia and the ...