EOW issues lookout notices against owner of Pranav Jewellers and his wife
The HinduThe Economic Offences Wing of Tamil Nadu Police, which is probing a case registered against Pranav Jewellers for allegedly cheating depositors through a chit fund scheme, on Monday issued lookout notices against the owner of the jewellery chain Madhan and his wife Karthika, who are reported to be absconding. Based on complaints from hundreds of depositors, the EOW teams in Tiruchi conducted searches at the jewellery outlets situated on the Karur bypass and Rockfort area on October 19. The issue came to limelight after the sudden closure of the jewellery outlets, shocking depositors who had invested in its chit fund scheme. The EOW, Tiruchi Unit, had registered a case against Madhan, Karthika and outlet’s Tiruchi branch manager Narayanan under Sections 406, 420 and 120 b of the Indian Penal Code and under the provisions of The Tamil Nadu Protection of Interests of Depositors Act.
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