Indore : The district administration on Wednesday sealed the office of disputed chit fund company Sai Prasad Food following a raid.
According to sources the team of revenue department led by SDM DK Nagendra and SDM Rajiv Ranjan Meena conducted a raid at the office of Sai Prasad Food at Airen Height, behind Orbit Mall on Wednesday. But the employees of the office did not co-operate with the team and they did not allow the team to take the documents.
Later, the team sealed the office.
The chit fund company had tempted investors with offer of two to three times returns for their investments. The company has branches all over MP. One of the investors Pushpendra Singh had filed an objection in the court. But the company secured stay from the High Court. When the stay was vacated, the administration team raided the office of the company.