Chit fund companies
JAYANTA KUMAR DAS
(Querist) 06 November 2015
This query is : Resolved
Respected Sir/Madam,
Many people in my local area (villages of West Bengal) deposited/invested more or less lakh(s) of rupees each in different Chit Fund Companies depending on the reliance of main agents-cum-managements who belong to nearby areas. Those main agents-cum-managements assured the people verbally – “You know me, you need not know the company, you are giving me money, after maturity I must return promised money, I am the guarantor.” All the money was collected by them from investors’ home after many many times visit. Now, the owners of different chit fund companies are absconding and all offices (rented) are vanished. Each main agent-cum-management incurred crores of rupees, but denying any responsibility. Local police stations are not accepting any FIR or General Diary. In this situation, can the owners along with agents-cum-managements be sued in Sub-Divisional Courts or High Court to get back money ? Will the District Consumers’ Fourm Court do ?
---- JAYANTA KUMAR DAS.
Sudhir Kumar, Advocate
(Expert) 07 November 2015
First of all the matter does not fall in consumer court jurisdiction.
Then understand that FIR is no way to get the money back. it is only punitive process.
when one has swindled carores of money then pocketing local thana is not surprise. Let the complaint give complaint to the court directly.
The complainants can file civil suit for recovery of their money. Chances of recovery are very very very bleak.
A FOOL AND HIS MONEY DO NOT REMAIN TOGETHER FOR LONG TIME.
Sudhir Kumar, Advocate
(Expert) 07 November 2015
is ti the same case
http://www.lawyersclubindia.com/experts/FIR-General-Diary-520981.asp#.Vj2hTm7K2xk
Rajendra K Goyal
(Expert) 07 November 2015
If police is not lodging FIR, meet higher officials. Take help of media to cover this scandal and inactivity of police.
Consult local lawyer and file complaint with the magistrate u/s 156(3).
Guest
(Expert) 07 November 2015
If Local Police is Not accepting the Complaints File it With their Superiors Till Commissioner Level in Detail.Even A Private Complaint Could be Lodged in Concerned Court To Direct the Concerned Police To Register the Complaint.Consult A Local Good Advocate.The Introducers are also Morally Responsible they Should atleast Assist in Tracing the Accused.They would have Certainly Earned Commissions for the Introductions.
Sudhir Kumar, Advocate
(Expert) 07 November 2015
in this case, as described by the querist the person was not the introduce rather underwriter.
The victims may do anything they please they are not getting the money.
ADV-JEEVAN PATIL, MUMBAI
(Expert) 07 November 2015
1) Approach Sr Officers
2) File private complaint as suggested by Rajkumar
V R SHROFF
(Expert) 08 November 2015
THERE IS SPECIAL PROVISION FOR ECONOMICAL OFFENDERS, THAT GOES IN CRORES.
APPROACH CRIME BRANCH, WITH NOTICE O HOME MINISTER
JAYANTA KUMAR DAS
(Querist) 09 November 2015
Respected Sirs,
The investors already contacted CBI, New Delhi H.O. & Kolkata, ED, New Delhi, SEBI, Mumbai H.O. & Kolkata and SFIO, New Delhi.
SFIO informed in written that investigation has been initiated and time to time investor will be intimated. Still today no intimation. SEBI, Kolkata along with Mumbai H.O. published an order by its appellate to contact them within 21 days by Hooghly Agrotech Ltd. of ERIS Group of Companies and Life Care Infrastructures India Ltd. of Life Care Group in February, 2015. After that nothing. Enforcement Dept. of New Delhi sent an enquiry to Jangipara Police Station, Hooghly District, West Bengal 03 months ago. Jangipara Police Station did not give receipt to application also. After that all are mum. Top managements of both chit fund companies are absconding. More over the influential local top agents are threatening investors. But both chit fund companies are duly registered with "Register of Companies" of Ministry of Corporate Affairs. Only because of this registration investors were deceived.
Each of those chit fund companies collected thousand crores of rupees.
Devajyoti Barman
(Expert) 11 November 2015
There are several writ petitions pending in the high court against such chit fund companies. 'So it would be better if you become added party to those proceedings or file fresh writ petition against police inaction.
I would advise you to choose the second option.
Several clients in such cases got good result through my hand by opting for such options as advised above.
Sudhir Kumar, Advocate
(Expert) 11 November 2015
Unless the case relates to official functions of an employee of a Govt/PSU of Central, or the case referred by central state Govt or by court the CBI cannot intervene.
You are going in wrong channel.
Please read again the short and crisp views expressed by Mr Narasimha and Mr Shroff
K.S.Srinivas
(Expert) 12 November 2015
File a petition to the crime branch.
File a civil suit for recovery of money.
