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Delay In Maturity Amount From Chit Fund


26-Nov-2023 (In Recovery Law)
I have subscribed for a 5 lakh rupees chit. And it has reached its maturity on July 2017, but the chit fund has not settled my money till date and not responding properly.. So I need some legal help to recover my hard earned money..
Answers (1)

Answer #1
662 votes
HELLO!

IF THE CHIT COMPANY IS A REGISTERED ONE YOU CAN APPROACH THE REGISTRAR CHITS. BEFORE APPROACHING THE AUTHORITY CONCERNED YOU HAVE TO ISSUE A LETTER OR LEGAL NOTICE TO THE CHIT COMPANY-THIS IS A MANDATORY ONE. IF THERE IS NO RESPONSE YOU CAN APPROACH THE COMMISSIONER OF POLICE WITH THE OFFICER “ECONOMIC OFFENCES WING”. THEY WILL SECURE YOUR CHIT AMOUNT OR ELSE YOU CAN APPROACH THE DISTRICT MUNCIF COURT / SUB COURT FOR DIRECTION TO THE CHIT COMPANY TO RETURN THE CHIT AMOUNT..
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