Legal Reckoning for Bengaluru’s ₹40 Crore Chit Fund Scam: Applicable Laws and SACM Provisions in Focus
The ₹40 crore Bengaluru chit fund scam, orchestrated by a Kerala-based couple, has impacted over 260 investors. This article explores the legal framework, including The Chit Funds Act, 1982, Karnataka Protection of Interest of Depositors Act, 2004, and PMLA, ensuring perpetrators face justice and aid victim recovery.