Agartala, May 7 (IANS): Raids were conducted at the offices of non-banking financial companies (NBFC) across Tripura and many documents and properties were seized, officials said here Tuesday. Two people were also arrested.

"The raids and seizures, which were launched recently across Tripura, would continue till the illegal activities of the NBFCs were curbed," an official told reporters.

"Official documents, computers and other properties have been seized after raiding the offices of the NBFCs," the official added.

He said that 127 NBFCs and un-incorporated bodies (UIBs) have been working in the state but during the past one and a half years 27 of them shut down their offices in Tripura after collecting crores of rupees from the people of the northeastern state.

Sub-Divisional Magistrate Manik Lal Das said that a self-styled director and his woman manager were arrested here Monday night for running an illegal NBFC, popularly known as chit fund.

"The director and his woman manager of 'All India Clench Foundation' have collected huge money from the people in the name of NGO. Police arrested them and seized their office properties," Das told reporters.

Earlier, Tripura Police arrested the director of 'Self Trust', Dipak Saha, after hundreds of agitated people across the state gathered in front of the company's office at Ranir Bazar, near here.

According to the preliminary probe of the police, the company had collected at least Rs.3 crore from people in Tripura. Of the nine-member board of directors of the chit fund, four are from West Bengal.