Famous Pranav Jewelery Company shuts..!?
Trichy-based Pranav Jewellers, which has branches in Chennai, Erode, Nagercoil, Madurai, kumbakonam and Puducherry, has been raising investments from the public on the promise of higher returns and a higher incentive for investors of Rs 5 lakh and above. Most of the people had deposited money ranging from 1 lakh to 1 crore on the promise given by the jewelery shop.
However, doubts about this started to arise about two months ago when the jewelery store failed to pay the interest promised on the investment. When contacted by some investors, the jewelery store promised to pay the outstanding amount within a week. Those who had invested their money were shocked to find the shop closed in Trichy and other cities on tuesday and all efforts to contact the owner on phone failed. The information that the shop is closed has gone viral and those who have invested money are worried. After the protest, the fort police rushed to the spot and negotiated. Officials have received complaints from every investor and have promised to investigate the same.