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Legal remedy to recover money from chit fund
01-Feb-2023 (In Recovery Law)
need and advice for my money is stuck in chit fund and i need to recover it. plzz help
You need to send legal notice to the chit fund company, if the chit fund company fails to reply any positive reply towards the same then file liquidation proceeding against the same.
The nbfc company who has worth more of 1 crore then you can make liquidation proceeding before DRT
The nbfc company who has worth more of 1 crore then you can make liquidation proceeding before DRT
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Adv. Prem Dhurvey
Mumbai | 25+ Answers
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What is Section 12 of chit fund Act?
No company engaged in chit business may engage in any other activity without the permission of the State government.
Is a chit fund legal or illegal?
Chit Funds can be registered at the Registrar of Societies and Chits, and are regulated by Reserve Bank of India, under the Chit Fund Act of 1992, which is applicable throughout India. Unregistered Chit Funds are initiated by friends, family, and colleagues. 07-Sept-2023
Is chit fund agreement legal?
As far as I am aware, chit funds in India are legal under the 1982 chit-fund act. In India, chit funds are a form of rotating savings and lending association system. Chit fund schemes can be organized by financial institutes or informal among friends, family, and neighbours. 06-Jan-2023
1. Send a legal Notice
2. criminal complaint with police
3.file a money recovery suit
You can take any of the or all of the above mentioned actions.It is not difficult to recover your hard earned money.
2. criminal complaint with police
3.file a money recovery suit
You can take any of the or all of the above mentioned actions.It is not difficult to recover your hard earned money.
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Adv. Manoj Parve
Pune | 25+ Answers
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First you may send legal notice for recovery of your hard earning money. If matter will not be setteled between you and he will not repay the money. Then filed police complaint against him for recovery money
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Adv. Pallavi Digambar Sonawane
Thane | 100+ Answers
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