hile the Saradha scam has highlighted the risk of investing in fly-by-night Ponzi schemes, a large number of informal and unregistered chit funds operate in Maharashtra. However officials say those cheated may not come forward to complain as these are informal, closed and community groups which may also involve black money. Maharashtra has around 154 registered chit fund companies and officials estimate that the number of the unregistered groups is higher............
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