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chit fund , money is not giving by chit fund operator .
10-Jan-2025 (In Criminal Law)
We were having a chit fund, i contributed to chit fund for 25 months, and i was the last member to get the last moths payment, but operator is not giving money , what to do.
If you’ve proof of all such transactions and the chit funds plan we can send a legal notice first and then also file a police complaint for cheating
It can be done without proof too but it is always better and stronger to have proof
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Adv. Devang Manjrekar
Mumbai | 100+ Answers
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Chit funds are regulated by the Reserve Bank of India (RBI) under the Chit Funds Act of 1982. The act ensures that chit funds follow strict regulations, which include proper fund management, transparency, and protection against fraud. If you have not received payment after investing in fund, you can lodge a Complaint with RBI and Police.
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Adv. Pankaj Bajaj
Mumbai | 1000+ Answers
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