No chit fund fraud at Pearls: CEO

Narayan strongly condemned the publication of news that claimed a chit fund fraud has been unearthed.

Reacting to media reports of a chit fund fraud allegedly perpetrated at the company,PACL India Ltd (Pearls) Group CEO Jyoti Narayan said on Wednesday that the firm is a real estate developer and never indulged in any type of chit fund business to make money double or triple.

He strongly condemned the publication of news by a section of the media that claimed a chit fund fraud has been unearthed at the company and its directors are not trace-able.

Narayan emphasised that all of PACL’s directors are sitting in the company’s offices in New Delhi and the company holds some of the biggest land and property assets in the country.

Story continues below this ad

He said if there were any doubts of the conduct of the company directors,they could be contacted for clarification.

Narayan was speaking to local journalists at a private function here last night. He also assured all depositors that if anybody wants to take back their deposits against houses or any other cause,they should come forward with a request to take the money back.

He said the company is dealing in real estate and not in chit funds,with offices all over India.

He also appealed to the public to contact only company authorised persons.

Public Safety Minister Gary Anandasangaree said the designation gives law enforcement “enhanced powers to combat a group that has instilled fear through violence and intimidation”.

Canada designates Lawrence Bishnoi gang a terrorist entity

Cities2 hr ago

The Canadian government has labeled the Lawrence Bishnoi gang as a terrorist group, granting authorities more authority to combat their violent behavior. The gang, operating in British Columbia, Ontario, and Alberta, has been connected to 50+ violent incidents since 2023.

View all shorts

Live Blog

PHOTOS