Archive · 19 Nov 2025
Bhavita Sri Chits MD Arrested for Scamming Depositors
The managing director of Bhavita Sri Chits, a chit fund company, was arrested for not repaying members after their chit periods ended.
The company is accused of diverting funds to real estate and other businesses, and selling low-cost land at high prices.
Depositors hope that the arrest of the MD will help them get their money back.
Bhavita Sri Chits MD Tatipalli Srinivas arrested in Hanamkonda
Company failed to repay members after chit periods ended
Chairman Gunda Prakash Rao arrested in September
Company allegedly diverted funds to real estate and other businesses
Victims urge police to seize company assets
- Who
- Bhavita Sri Chits MD Tatipalli Srinivas
- What
- Arrested for scamming depositors
- When
- Recently in Hanamkonda
- Where
- Warangal, Telangana
- Why
- Failed to repay members after chit periods ended
Depositors
Bhavita Sri Chits Management
Repayment
Depositors
Demand repayment of their deposits
Bhavita Sri Chits Management
Failed to repay, shut down branches, abused depositors
Funds Diversion
Depositors
Allege funds were diverted to other businesses
Bhavita Sri Chits Management
Accused of violating chit fund regulations
Asset Seizure
Depositors
Urge police to seize company assets
Bhavita Sri Chits Management
No official response from the management
- Company
- Bhavita Sri Chits
- MD Arrested
- Tatipalli Srinivas
- Chairman's Arrest
- Gunda Prakash Rao in September 2022
- Accusations
- Diverting funds, selling low-cost land at high prices, illegal fixed deposits
- Victims' Appeal
- Seize company assets to recover money