Syed afroze ali 26 November 2021

Unregistered chit fraud

Dear experts please advise.
My father invested in local chit fund (unregistered), he is not returning the money it's about 1 year but he didn't return us single rupee,

How to get money back, can we go legally.

Please help me in resolving.

Thank you.

Reply Follow

Quick Summary

If you've invested in an unregistered chit fund and aren't getting your money back, legal action is possible. You can start by issuing a formal legal notice to the fund manager. If this doesn't resolve the issue, consider filing a complaint with the Registrar of Chits and the District Collector, and potentially a police complaint for recovery.

2 Replies

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 26 November 2021

Issue a legal notice to the unregistered chit fund management for your money recovery. and also you can also complain to Registrar of Chits and District Collector.

Anaita Vas 26 November 2021

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

Regards,

Anaita Vas