Chit fund amount not repaid
gokul
(Querist) 03 January 2019
This query is : Resolved
Hi,
we have been putting the money in local chit fund company from past 12 years and a lady was running this business, she was introduced to us by one of our neighbours.There was a new chit started in the year Jan 2016 for the amount of 1 lac and completed in the year Aug 2017.but we havent received the amount till now.its been one and half year since im making rounds to them for my hard earned money. In between they have changed their house and not lifting my calls. the only means is their shop located nearby, whenever i go to their shop and ask for money they threaten us by saying they will complain agaist us as we are creating nuisance in front of shop and takes video. she outrightly saying that she will not give the money.The only proof i have is a small note book of monthly installements with their sign and a few audio recordings of our conversation.
please could someone suggest what can i do in this regard?
Sudhir Kumar, Advocate
(Expert) 03 January 2019
visit a similar thread
http://www.lawyersclubindia.com/experts/Chit-fund-699531.asp
kavksatyanarayana
(Expert) 03 January 2019
You are saying that a lady is running chit fund business. Is it a registered company? if registered, the group in which you subscribed is registered or not? If it is a registered company, file complaint to the Deputy Registrar of Chits concerned by Registered post marking copy to the police station.
gokul
(Querist) 05 January 2019
Thank you everyone for the reply.
The chit fund business is not registered. they were running through all the know people around and we became one of them.
Sudhir Kumar, Advocate
(Expert) 05 January 2019
So you are victim of faith and have invested in unsecured project.
gokul
(Querist) 08 January 2019
I'm a victim not only faith sir, but also believing in someone whom I know for past 10 years and that is the reason I have been patient for one and half year.
Adv. Umesh Arora (SCI)
(Expert) 10 March 2020
Hello Gokul!
From your query, prima facie a case under section 3, 4 and 5 of Prize Chit Fund and Money Circulation (Banning) Act 1978 and section 420 of IPC is made out. And, it always depends upon the language you use in your FIR and the documents like your diary which contains the signature of the opposite party that what more sections does the offense so stated touches. Your FIR needs to be drafted on the basis of your evidence and allegations.
In this matter, recent observations and judgments of Hon'ble Uttarakhanf High Court Nanital are of immense help to you, wherein the court has refused to even grant bail to wrong doers such as the opposite party here.
A well draftwd FIR will shape the fate of your case. You reach me in case you need any further help.
Umesh Arora Adv
Supreme Court of India
9258008500
Raj Kumar Makkad
(Expert) 10 March 2020
I do endorse the legal advice of expert Umesh and nothing needs to be added therein.
