[Resolved]  Sree Gowri Ganesha Chits Pvt. Ltd. — Not Making Chit Payment for the prized subscribers.

Address:

Hassan, Karnataka

I had two chits in this Company in Channarayapatna Branch amounting Rs. 1 lakhs and Rs. 5 lakhs, and i had auctioned one chit of Rs. 1 lakhs in the month of April-14 and submitted all the documents as required by the for security. But the company is not ready to pay my prized Money even after almost two months and the Manager is giving dates from one and half month but he is not able to keep his promised dates. Even he is not ready to take the responsibility of making prize payment and not even bothered about customers and says that you ask your agent for the amount, how horrible it is?.Even one of my friend also experiencing same problem for chit amount of Rs. 5 Lakhs. I have to clear my Credit Card out standings and hence got auction of Rs. 1 lakh chit to clear this as they are charging more than 6% per month interest including late payment fee etc., But unfortunately till date i haven't received my payments and paying penalty to my Credit Card out standings and being default in making Credit Card Payment, my CIBIL report is also getting hampered. I am very scared that, this is going to be a another saradha chit fund scam in South India as these people are very reluctant to pay prized money to their subscribers even after 2-3 months and their Manager says simply that we will return your deposited amount instead of chit amount. I Don't know how the Registrar and RBI is monitoring this Company on its operations and payment to customers as per the Chit Fund Act. I Request Govt. Of Karnataka to inspect and investigate and verify the operations of this company with feed back from at least 1000 subscribers (present and previous) as they are defaulting in making payment of subscribers, and if found any mismanagement, please forfeit their license and arrange for refund of all the subscribers with the security amount. Otherwise we may seen another Saradha Chit Fund Scam in South India soon.