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How to recover maturity amount from chit fund
14-Feb-2023 (In Civil Law)
Hi, My name is shivakumar. I have joined the chit scheme in my village. i work in pune.I have joined scheme for term of 25 months. monthly i have to pay 10,000 per month. After the completion of the 25 months terms. The person who is running the scheme is refusing to pay the maturity amount. Can you suggest me how to solve this dispute. He also said it is registered finance company. Thanks
Wheather the chits has registered or not ? Anyway lodge a crimininal complaint against him for cheating. If the firm is registered one you may approach the court to dissolution of fraudulent chit firm. Mostly the matter may be settled. If not file a civil suit for recovery of money.
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Adv. Selvaperumal
Chennai | 100+ Answers
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Usually there will not be any problem to get your maturity amount Since the finance company is a registered one according to you. If it's a registered one means surely it will have its own broucher containing its rules and regulations.since you have paid the huge amount without fail they have the responsibility to ppay back your money.if they don' t do so send a legal notice .moreover the problem will be settled.if not so give a police complaint and then file a case against them to recover your hard earned money.they don't have any right to hold back your money.so act in accordance with law.
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Adv. K Prema
Chennai | 200+ Answers
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