| Address: | Sri Amarajeevi Potti Sri Ramulu Nellore, Andhra Pradesh, 524201 |
Dear sir,
Above mentioned complaint has not been resolved. I may be compelled to go to ncdrc.
I joined as a subscriber in kapil chits (Kosta) andhra pradesh at kavali branch with the monthly subscription of rs.10, 000 per month for 50 for 5 lac chit. My chit ticket no : fkvt24j-30. It is actually saved from my father salary for my sister’s marriage. My sister got married in april 2018. We tried to prize the chit for three months but we failed to get it. At last in june 2018 we prized the chit for discount rs.63000. So we had to get the amount of rs.4, 37, 000. But we requested the foreman to deduct the future subscriptions and pay the remaining amount. They agreed and took my signatures, i came from bangalore to sign on papers, on the documents. After one month, they intimated that my name was wrongly written on the documents. It is also known that when my mother chit was prized they did the same mistake by writing my mother name and they also apologise for not taking signature on a document after one month when the payment was to be made. I came to know that it is usual thing they do to postpone the payments to the subscribers.
In march 2018 my father took hand loans from his friends at rs2.00 of interest with the promise that he would pay the loans with in 3 or 4 months in view of paying the loan with the chit amount. October month is coming but he cannot pay the loan. He goes on depression whether the chit amount will be given or not. As to my knowledge i also put here the chit funds act 1982. The act says that
“ the foreman shall, on the prized subscriber furnishing sufficient security for the due payment of future subscriptions, be bound to pay him the prize amount: provided that the prized subscriber shall be entitled to the payment of the prize amount without any security whatsoever if he agrees to the deduction there from of the amount of all future subscriptions and in such a case, the foreman shall pay the prize amount to the prized subscriber within seven days after the date of the draw or before the date of the next succeeding installment, whichever is earlier: provided further that where the prize amount has been paid to the prized subscriber under the first proviso, the amount deducted shall be deposited by the foreman in an approved bank mentioned in the chit agreement and he shall not withdraw the amount so deposited except for the payment of future subscription”
His anguish may not be cost.
G. N. S. Sirisha Was this information helpful? | 
