Msil Chits Fund — not accepting surety for bid amount

Address: Mysore, Karnataka, 570001

Dear sir,
I have a chit in msilchit fund group, mysore branch. I had bid the amount and had submitted a lic bond which was commenced when i was 10years. The people of msil rejected the surety stating that the policy has been commenced when the person is below 18years so this policy still belongs to proposer not the assure and hence can't be accepted. When i approached lic branch they gave clear picture that once the person attains 18years the policy will be in the name of assurer and not the proposer anymore. And when i saidthe same reason to msil they did not accept again. I lost almost 60000/- because of this unclear rules and policies of msil. So i want them to pay the amount which i lost because they have never mentioned that they don't accept policy which commenced before 18years of the assurer.