| Address: | Hyderabad, Telangana |
We are the Member of a Chit of KAPIL CHITS (HYDERABAD) PVT., LTD., at Abids branch, Hyderabad. The Chit value is Rs.2, 00, 000/- for a tenor of 50 Months, commencing from 03/15 with Monthly subscription of Rs.4000/- . I have been paying the Monthly installments regularly.
At the time of opening the Chit, I was told that the Chit amount, on winning the bid, will be paid to the prize winner within 7 days from the date of documentation, if no collateral security like immovable property or Guarantor is involved.
Accordingly, in view o[censored]rgent need of money, I have won the bidding at loss on 30.11.2018, after 45 months tenor is completed. And on my persuasion, you have completed the documentation for the purpose on 11.12.2018. At the time of documentation, I was informed that the amount for the balance installments will be adjusted from the total amount of the Chit payable to me so that No Collateral Security is required to provide. I agreed for the same. Since then, in spite of our continuous personal follow up, neither the Manager nor the Staff is responding to our request for payment of the Chit amount.
I am utterly disappointed since the purpose of auctioning the chit has been defeated, because of the Chit amount not being received till date, even after lapse of 45 days from the date of auctioning.
Thus, the Gross Failure in arranging payment of the Chit Amount till date by KAPIL CHITS amount to Cheating, breach of trust.
All the victims of KAPIL CHITS are hereby advised to come on a single platform and fight against the company. Who ever interested to share the common platform, please mail to [protected]@gamail.com. Let us decide the future course of action unitedly. There is no option but to proceed legally, besides bringing to the notice of the Registrar of Chits for necessary action.
Was this information helpful?
Post your Comment