Chit fund

Querist : Anonymous (Querist) 30 December 2018 This query is : Resolved
My Sister in law had taken chit fund for rs. 25 lacs at indirangar Chit fund in bangalore.. My husband and I and 2 of my relatives put surety..My SIL paid rs. 19 lac when she took prize amount after that she became defaulter... Now the chit fund people are threading us they are going to file a criminal case on me( as I am a public sector employee) and my husband along with the defaulter...
How can I get out it legally..whether this case will affect my carrier and my CBILE score?
If the chit fund company file the case against me, what will happen?

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kavksatyanarayana (Expert) 30 December 2018
If your sister-in-law will not repay the amount, they will file suit against the defaulter and sureties. The balance amount with interest will be collected from the sureties. so convince in your sister-in-law to pay the amount immediately. and request the Foreman of Chit Fund company in an amicable way to give some time to repay the balance amount.

Dr J C Vashista (Expert) 01 January 2019
I fully agree and appreciate acumen and advise of expert Mr. Kavksatyarana, nothing more to add.
An anonymous author should not expect valuable advise and obligation of experts as per rule of this platform.

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