Claiming that a private finance firm had cheated them of several crores of rupees, investors blocked the Sathyamangalam–Coimbatore National Highway here on Wednesday (November 5, 2025).
The investors said the firm, headquartered in Sathyamangalam with branches in Gobichettipalayam and Coimbatore, had collected huge sums from the public through various chit fund and deposit schemes. Over a hundred people from Sathyamangalam and nearby areas had reportedly deposited lakhs of rupees in the firm.
In recent months, the company allegedly failed to return the maturity amount and delayed payments to customers who had completed their instalments. Attempts to contact the company officials proved futile as their phones remained switched off.
On Tuesday morning (November 4, 2025), over 50 affected customers gathered in front of the firm’s office and staged a protest demanding repayment. Police rushed to the spot and held talks with the protesters. The next day, more than 100 investors blocked the highway, seeking immediate action to recover their deposits.
The protesters said they had invested their savings, trusting the company’s advertisements and promises, but were cheated of their money. The police officials asked them to submit written complaints, following which the protesters withdrew their road blockade.
Published – November 05, 2025 07:02 pm IST
