Youth kills mother over losses in chit fund business

Youth kills mother over losses in chit fund business
Highlights

A youngster killed his mother over her failure to run chit fund business effectively. The man, Madan Yadav picked up an argument with his mother S Mamatha Yadav on Wednesday night following which he stabbed her and slit her throat.

A youngster killed his mother over her failure to run chit fund business effectively. The man, Madan Yadav picked up an argument with his mother S Mamatha Yadav on Wednesday night following which he stabbed her and slit her throat.

The incident took place at Ameerpet. Madan later surrendered himself before the SR Nagar police.

According to the police, Mamatha Yadav had been running chit fund business for the past several years and collected several lakhs of rupees but was not able to return the money to successful bidders in the last few months. Due to this, she took a debt from various sources, further landing in a deep financial crisis.

Creditors and bidders were visiting her house demanding the return of their dues which caused a lot of trauma to the family.

A case has been registered under Section 302 (murder) of the Indian Penal Code (IPC).

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