Kapil Chit Funds Complaints & Reviews

I A.Basavaraj, residing at D.No.4-2-743, Tirumala Nagar, 3rd Cross, Anantapuramu, wish to submit to your kind notice that, I have started my Chit investment in Kapil Chit Fund bearing Chit Group No.FATT38J-5, Chit amount of Rs.5, 00, 000/- since 6/2017 onwards and the last and final payment was made on[protected]Zerox copy receipt enclosed) I was paying the chit amount installment regularly and did not bid the chit upto chit completion.

Further I mention that the chit was completed in the month of May-2021 and as I approached the Kapil chit Fund Office located at Raghuveer Towers, Plot No.5, Anantapuramu to claim my Chit final payment amount. The Branch Manager Sri Baskar has requested me to submit my proofs i.e. my PAN Card, Aadhar Card and Bank Account details (Which I have submitted) and told me to wait for 3 (Three) months for the Chit Amount payment. After 3 (Three) months Sri Baskar, Branch Manager has continuously postponing months after months which accumulated to 6 (Six) months and yet I have not received my chit final payment amount till to date.

I kindly request you sir, to look into the matter by contacting the Kapil Chit Fund authorities and help me in getting my chit final amount settlement along with interest from the chit completion to till to date, as soon as possible for which action, I am very Thanking to you Sir,

Respected sir /Madam
I haven't received the Money which is due to me from Kapil chit Funds for The maturity of My chits date.And I'm unable to know the current status regarding the Payment or any date of payment of the due Amount

Kapil Chit Funds — Fraudulently collecting toward benefit of its Health Club
I V.padmavathi
I am resident of kalwakurthy nagarkurnool dist, I joined as a member in Rs 5, 00, 000-00 chit in kalwakurthy Branch. As I got the bid, I got the amount in the form of cheque excluding some charges like verification charges Rs 1400/-, service tax GSTs Rs 3000/-, but with out my information they deducted 7500 to kalpol Health club for their targets and commission pupose they deducted 7500.
After few days, I requested the manager why you deducted 7500, He told he will send.
Kapil Chits fraudulently collecting money from bidder towards Health Club membership and Insurance 7500.

They have also included one form in bidding form and taking the signature of customer without my concern.
Is that mandatory to take insurance and membership compulsory if you join chit group.(No other chit fund company is collecting except Kapil Chit fund Group
Now I clealred all my 49th installment, and 50 month part payment paid I am due of 7000, .
The Manager says..its fault of old manager and staff they done of target purposes for not providing the information.
I have requested new branch manager to adjust the amount which they have collected in advance so that my due will cleared kalwakurthy branch manager refuses to do that and warns to issue notice to guarantors and also says they will collect all illegal charges as per their wish and deduct the amount from guarantors.

Chit serial number : FKWT10J-16
NAME : V.Padmavathi

I request concerned chit fund regulating authority to esquire all biders about this fraud practice and take necessary action.

Regards
V.Padmavathi
G.santhosh (son of Padmavathi)
[protected]
[protected]@gmail.com

Hi,
I am sushma I have double bond in beeramguda branch. It matured on 5 jan 2022. I have submitted bond on 1 jan 2022. Form past one month I am visiting the regionaloffice for maturity cheque. But they are not responding. Kindly hand over my 14 lakhs cheque. We are in need of it .

I have 3 one lakh chits in Kapil chits in karimnagar branch.i auctioned one chit 4 months back and completed all the formalities 3 n half months back.but still I didn't receive any money from them. Am following up continuously through many sources but no use.the chit details are attached in the photo

I have achit i madanapalli. There is some problem with the agent. Can you help me here

I'm A. Ramyasudha.
I have taken 1 chit of 5, 00, 000 with number KKJ0433J-48.T I asked to draw my bid in online auction. Before 30mins.. of online auction, I made phone calls to him many times and he didn't respond for my call. I tried for 25 times. No response. I tried to participate in auction but I was in vain. Please take action on him.

Dear sir, my name is peshetty Amar kumar mobile number [protected] . group and ticket KKN04T27J-36, I have made a payment through Kapil app of rupees 4000 and 1000 transaction was successful on 11january2022 but still showing due.

I am Satyanarayana Raju from Bhadrachalam, on 23rd Dec 2015 Done FD for One lakh rupees in Kapil Bhadrachalam Branch. Submitted withdrawal form in Dec 2021 already.Amount not yet credited.

Please look into this ASAP

Thanks

I am Satyanarayana Raju Vatsavai, Done Fd with Kapil chitfunds on 23rd Dec 2015. Submitted withdrawal form in dec 2021 after maturity. Till date the amount not yet credited.

Please look into this ASAP

Respected Sir,

This is Lalitha Prasada Rao, age 70.
For the past 2 years I am chasing Kapil Chits, Kandhukuru regarding payment related to the chit FMRT03P/11. They issues 3 union bank cheques as below.

1. Cheque no 065008, Amount Rs. 1, 00, 000 date 30/12/2020
2. Cheque no 065009, Amount Rs. 1, 00, 000 date 28/02/2021
3. Cheque no 065010, Amount Rs. 71, 452. date 25/03/2021

But non of them are realised, I am chasing them past one year about these cheques. 2 months back they have taken these cheques from me saying they will update date and issue new cheques. But they have not given any new cheque yet. My health is not supporting to go to Kandhukuru, kindly help me.

Thanks & Regards
Lalitha Prasada Rao Pinjala
Vetapalem

Chit amount not received...pending amount dely since 3 years...I called so many time...they simply dragging...

Almost 2 months done, my chit is last, but they are saying still document process is going on.

If we delay one month they will collect interest from our side.

I am K Ashok from Nellore.I have taken 50 months Chit plan from Kapil chit funds in the year 2017.Since beginning of chit I have been paying installments regularly without any delay . I have paid all 50 installments .Few days back I have submitted the closure documents to Annamayya circle branch, Nellore, Kapil chits fund for matured /Bid amount, but nobody is responding for my payment.

I am Dr. Md. Abdul Kaleem, working as Deputy civil surgeon in ESI Dispensary, Kadapa, Andhra Pradesh. I was working at Adoni, Kurnool district 2 years ago. I have been having a long relationship with your company. I have been having chits in your company for the last 12 years and am regularly paying installments without any pending issues.

5 years ago I joined in a chit for Rs. 5, 00, 000 in my wife's nameThe Chit No is : "FANT18J-30" . I lifted the chit in August 2021 for Rs.30, 000. Your manager Mr. Bheemeshwar Rao of Adoni Branch has assured me that a chit amount of Rs.4, 70, 000 will be paid to me within a month's time and got all the documents signed by my wife. They then said that they will deduct the remaining 8 installments amount (Rs.80, 000) from the chit amount so that they can release the amount fast for which we gave consent.

But unfortunately till today (after 4 months) we have not received the amount of Rs.3, 90, 000. Your manager Mr. Bheemeshwar Rao is not responding to my calls and whenever he lifts the phone, he is telling the same story that the amount will be released within a week. This story has been going on for the last 4 months.

Meanwhile I came to know that the Kapil chits Adoni branch manager has started another chit in my wife's name without our consent and without any agreement signed by us. Chit No: "KSEKAT12J-44" was started in wife's name. Further they even deducted 3 months installments (for new chit) from our chit amount without our consent.

This kind of irresponsible and fraudulent actions from your staff is very disheartening to regular customers like us. Previously also Mr. Bheemeshwar Rao has caused a lot of problems for me and took 3 months to release the maturity amount of our fixed deposit. I regret to say that your staff, especially your managers lack professionalism and they are feeling as if they are giving us their own money to the subscribers. This kind of delay in processing payments is bringing disgrace to your company.

Hence I request you to immediately release my chit amount of Rs.3, 90, 000 and cancel our subscription of new chit "KSEKAT12J-44" and reimburse the amount deducted for my new chit. I also request that necessary disciplinary action to be taken your Adoni Branch manager for his negligent behavior towards the subscribers
[protected][protected]-------
From:
Dr. Md.AbdulKaleem,
Deputy civil surgeon,
E.S.I. Dispensary,
Kadapa- 516002
Andhra pradesh

Kapil chits of zaheerabad branch, provided us prized amount after approx 2 months from submitted final securities...
This was made intentionally ...
What's happens if i raise through RTI ...

I, Mandava Dinesh is a regular chit payer in kapil chits with reference number FABT-10J32.The chit was opened in karimnagar..But to my surprise, the branch manager has later informed that without my knowledge, chit was opened in Adilabad branch after repeatedly asking for auction date and time.I was a successful prize money bidder in the month of October..Till now, kapil chits has not issued cheque to me even after repeated requests from my side.I requested branch manager Mr srishailam repeatedly for obtaining signatures of surities, in karimnagar.He intentionally did late in obtaining surities signature and my signature.He insisted for doing insurance in kapil chits and I have rejected in doing so.I have requested him to issue the cheque before 23rd December, for which I have to pay the amount for a plot purchase.But even today, I didn't get the amount.He has sent cheque images in whatsapp without dates ..and to my surprise the amount was 25000/- less than the bid amount.I have paid all the instalments till date and there is no due from my side I incurred a loss of almost 2 lakhs due to kapil chits..as i was unable to pay the amount for purchase of plot on December 23rd.I have all the proofs with me regarding the conversation with the branch manager.I asked him to provide his head office number .. but he has not provided the same to me and advised me to complain anywhere.The main reason the manager is telling is that there is shortage of funds in kapil chits.because of kapil chits..I was unable to pay the amount for my plot for which I have to pay 12% interest.I demand 12% interest rate from December 1st to the date of credit in my account.Please inform me how to complain to their head office.

Thanks in advance,
M.Dinesh

One of the recovery agents of the Kapil chits doesn't know how to behave with the subscribers during the recovery of the amount. He was abusing the customers with inappropriate and foul language which is a punishable offence. He doesn't know how to treat the customers. Being one of the best and trusted investment services of India, this is very disappointing that you don't train the collection agents on how to treat the customers with respect. I want this issue to be highlighted and may reach vaman Rao garu so the appropriate action will be taken against the collection agenst, he has to be removed from the job if possible.
The details of the agents are kiran and Ravinder from legal branch Karimnagar

One of the recovery agents of the Kapil chits doesn't know how to behave with the subscribers during the recovery of the amount. He was abusing the customers with inappropriate and foul language which is a punishable offence. He doesn't know how to treat the customers. Being one of the best and trusted investment services of India, this is very disappointing that you don't train the collection agents on how to treat the customers with respect. I want this issue to be highlighted and may reach vaman Rao garu so the appropriate action will be taken against the collection agenst, he has to be removed from the job if possible.
The details of the agents - kiran, Ravinder from Karimnagar branch, Kapil chit funds

I paid 44 months for 50 months in Kapil Chit Fund. I took the check through subsequent auction. But to date the money has not been paid. In November, Kapil Chit Gadwal handed over 2 checks dated December 20. However, if he went to draw the checks on December 26, the check bounced due to lack of money. Please resolve the issue.