Investors, who ‘lost’ money in the monthly gold chit scheme run by a jewellery chain, gather outside its shop in Chromepet.
CHENNAI: A day after angry investors staged a protest and filed complaints against a jewellery chain’s outlet in Tiruchy, hundreds of people gathered in front of the chain’s shop in Chromepet that has remained shut for the past few days.
The protest in Tiruchy had raised concerns among those who had joined the monthly chit scheme run by the chain.
According to the police, many people had joined the 11-month gold chit scheme run by Pranav Jewellery’s shop that has been functioning in Chromepet for the past few years.
Under the scheme, the customers who paid Rs 2,000 for 11 months could buy gold for Rs 24,000 at the end of 12 months.
When some customers went to the shop last week to buy gold, the staff told them it was better to come around Deepavali because new collections would arrive by then.
The notice put up by the shop
On Sunday, the shop was closed, with a notice stuck on the shutter announcing that it would remain closed for two days for electrical maintenance.
On Tuesday, there was a protest in Tiruchy and the shop remained closed even on Wednesday, which made the investors worried.
Worried about the fate of their money, hundreds gathered outside the shop, some of them even trying to break open the shutter.
Soon, officials from Chromepet police station came there and pacified them with the promise of con- ducting a thorough investigation. All those who invested money were asked to file complaints.
Officials said they have received complaints from several women, running to more than Rs 4 crore.