THIRUVANANTHAPURAM: The police have warned against investing in private money transfer institutions that operate without necessary documents. The Crime Branch ADGP appealed to the public to be extremely cautious as investing in such institutions could lead to financial fraud. The details of such institutions have been published on the Kerala Police website.

Nidhi companies can operate only after obtaining the approval of the Registrar of Companies. Out of more than ten thousand companies in the country, only about 2000 have provided accurate documents. Nidhi companies cannot do chits, hire purchase and leasing finance like non-banking financial institutions (NBFCs). Investment in other companies is also not allowed.

The list includes Ananthapadmanabha Nidhi Limited, Amala Popular Nidhi Limited, Adodil Nidhi Limited, Amrithasri Nidhi Limited. DRK Nidhi Ltd., GNL Nidhi Ltd., Kaipalli Apsara Nidhi Ltd., Mary Matha Popular Nidhi Ltd., Neyyatinkara Nidhi Ltd., NSM Merchants India Nidhi Ltd., Renenet and Tyche Nidhi Ltd., Revo Urban Nidhi Ltd., VVC Merchants India Nidhi Ltd., Sahasradhana Suraksha Nidhi Ltd.etc. According to the police report, such institutions are operating mostly in districts like Thiruvananthapuram, Kollam, Alappuzha, Ernakulam, Idukki, Kozhikode, Kannur, Kasaragod, Malappuram, Palakkad, Wayanad, Pathanamthitta.

According to police records, there are 72 institutions in Thrissur district with least in Wayanad-3. Thiruvananthapuram has 14 institutions in the list. According to the figures published by the police, there are 18 establishments in Ernakulam, 11 in Kozhikode, seven in Alappuzha and eight in Kollam.