Investigation Links Salai Financial Services to Illegal Deposits

Salai Financial Services (SAFFINS) was registered under the Bombay Money Lenders Act, 1946, which permits only money‑lending activities, not the acceptance of public deposits. The accused misused this registration to operate like a bank or NBFC without RBI clearance. Deposited funds were circulated through the directors' and group companies' accounts. The Central Bureau of Investigation has also filed an FIR, labeling the operation as an illegal money‑circulation racket.