Legal procedure for recovery of money from chit fund


I want my money deposited to a chit fund back. I have lifted the chit but they took two months and stopping my Cheque1 with various reasons. Now I want my deposit money back without any cuttings. Please help

Answers (3)


101 votes

Hi,
You are mentioned few details only.please send the complete details regarding the chit like chit fund company name, chit amount ,period of chit , chit starting date and place of branch.
With out complete details we are unable to give you good suggestion.

Thank you ,have a nice day.


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184 votes

If it is a registered chit fund company, as subscriber, you can file a application before the concerned the Registrar for the winding up of the chit fund company and based on your application the concerned registrar mya order injunction order

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279 votes

Cheque life is 3 months, even a stop payment you can file a Private complaint U/s 200 Cr.P.C with offence U/s 138 NI Act. Stop payment will not give them any relief if you have sufficient evidence to support your claim but you have to send them Statutory Demand Notice within 30 days of the receipt of Memo from the bank regarding the cheque. If you have crossed statutory period you can still go for recovery of money suit. Further, you can also file a cheating on them. Contact a competent lawyer in your area for further proceedings. Best of luck

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