I request our members valuable guidance reagrading an incidence in our family.
One of my brother-in-laws used to run an unauthorized chitfund firm since 2007 and reached a 1 crore rotation firm.
Recently, he had escaped from the village filing an IP for 1.6 crores attaching a property of 20 lakhs and attaching a list of depositors who has to pay him for rupees 46 lakhs.
Now one person who has deposited rupees 1.8 lakhs in the firm filed a case under IPC section 420 r/w 34 and Andhra pradesh protection of depositors and financial establishments act 1999 sections 3 & 5.
My query is that can this depositor file a case under protection of depositors act 1999 despite its a chit fund firm.