"They stood in long queues in front of the Chennai Police Commissioner's office," the newspaper said Wednesday.
"A few of the shops located close to the Commissioner's office made a fast buck selling printed formats of the complaint to make the complainants job easy."
Extra policemen were put on duty to accept complaints from victims.
Acting on a complaint from a victim, police in the Sembium area had arrested seven persons including the managing director of the firm in India and two other directors on charges of fraudulent business practices, Times of India said.
Indian media reports said police officials had been getting calls from top politicians and other bigwigs not to proceed against the firm.
India has an anti-pyramiding law in the form of the Prevention of Prize Chits and Money Circulation Scheme Banning Act, reports said. Polic