Shriram Chits Complaints & Reviews

Hello Shri Ram Chits Team,
Greetings!

Sub: not received Chit completion document and Insurance amount for 10 Lakhs chit -reg.

This is Afrin Sulthana Sunkesula, I had taken 10 Lakhs chits on my Name in the Shri Ram chits office, Burma street, Madanapalli Branch, branch code: 3466, Chittoor Dist. Under the Chit manager Mr. Bhargav Choudary in the date of 21/October/2019

The chit details are below for your reference.
Chit Number / ticket Number : 3466/84008/32

I have successfully completed my Chit period in the year 2023, almost 4 months are over still not received NOC and completion documents. Continuously checking in the branch, Old Manager got transferred and new Manager Manikanta, very rude in his behavior and he is not giving minimum respect to us. He is using slum language while talking. We are the educators, we have our own respect in this society. Because of customers like us you re running your business. First value your customers and give training on how to talk with the customer specially for lady customers, before taking into the position. They are not giving proper response on these documents.

I need my completion documents and NOC as soon as possible. Please have look on to this issue.

Thank you in advance,
Afrin Sulthana Sunkesula

From : K.Gopinath - Mobile : [protected]
GF1, 1st Floor, Marvel Homes,
Gergambakkam, Chennai – 600122

To : The Branch Manager
Shriram Chits (Pvt) Ltd
Anna Nagar, Chennai

Sir,

Subject: Negligence on Update on my new Address and communication and chits Fraud.

With reference to the above subject, please note that I have paid first payment in July 2020 for TWO Chits. 1. 25, 00, 000/- and 2. 5, 00, 000/- these two chits started after 14 months.
Chits Account Details :
1. For Rs.25, 00, 000/- in Anna Nagar Branch[protected] Chit ID)
2. For Rs.5, 00, 000/- in Ambthur Branch[protected] Chit ID)
Until July 2022, I paid the entire amount.
I gave my new address proof (Gas bill and Residence Agreement copy and my aadhar) in July 2022 to Branch Manager to update my address. He told me it would take 15 days’ time to update. We trusted and agreed. In the month of August 2022 my Grandfather admitted in Hospital due to his health issue, we given continues treatment in Hospital. He expired in July4th 2023. During this period we unable to pay Chit amount. I received call from Shriram chits dated 04.08.2023 to pay Chits due amount. I went to their place dated 11.08.2023 to pay the entire due amount including interest. However, they told me your account closed and given to some other party. Now no vacancy in that chits group. Then I asked my paid amount with interest, they told as per chit act, they can’t give interest, they told me, they will deduct 5% and 2% total 7% will deduct on Rs.25, 00, 000/- and Rs.5, 00, 000/- till date we paid Rs.5, 35, 000/- and Rs.1, 46500/- they are telling Rs.239, 000/- will deduct from our paid amount. To this, we do not agree. Because until 04.08.2023 I received communication, my account is active, they told me to pay the amount, but they are telling me that my account will be discontinued from June 2023. I am not aware of this information. They are telling me they already sent postal communication to my old address. Later I found their negligence, they did not update my new address, it was their mistake, all the communication they sent to my old address. My regd Mail Address: [protected]@gmail.com and [protected]. Until date discontinue information no one informed me, they found a new chit customer, immediately replaced me. Then what is respect, until date we paid the amount to this company. If they ask for a delayed period interest, I am capable of paying interest. Without my knowledge they did.

Now, from new chits / replaced chits customers also they will earn income 7% and from me also charging 7% chits, how will it be accepted? I feel, because of this kind of illegal business, only Shriram chits are not communicated to customers, without customer knowledge they removed me. Because in my old address all the regd postal might be returned. What alternative option do they have in mail or my phone number? They have not communicated in any mode, just Shriramchits cheated me. I need justice, and else it will create big controversy in the Finance industry. If you do not resolve this issue immediately, we will take help from RBI and Media with public support. If you take light and negligence, we cannot tolerate and cannot keep calm. We have not received any communication.

Please call, discuss with honest people, and resolve the issue, I am ready to come to your office to discuss any time.

Regards

K.Gopinath
[protected]
Mail: [protected]@gmail.com

Agreement No: VIJA4SL[protected]
My name is Siva Naga Durga, 6 year's back my father taken loan on my account in Sri Ram finance Ltd, after paying 12 months emi, my father went for settlement and paid 100000, but not taken NOC because I am not available due to my work in other state, after that they made to pay 4000, after that they made to pay by calling 16000, but not taken NOC, after 4 year's not lawyer notice came to pay 50000 plus for 14000rs, my father died 4 year's back on road accident, now I am married and house wife, how can I pay that much amount, please settle my issue, by not taken NOC this Sri Ram finance Ltd is charging this much amount. Which in the position not able to pay

Chit Id[protected]
Chit Amount- 25 L
Bid Amount- 10 L
Disbursement Amount- 15 L

Complaint-
1) Disbursement delayed by 1 month.
2) Employee continuously making wrong statements.
3) When bid Amount includes all charges, though they deducted Rs. 1, 61, 018/- from Disbursement.

Kindly suggest further...

For the past weeks, I have been trying to withdraw my money but it kept writing errors, I advise everyone not to put their money on this site and if you have your money stalked with you can as well reach out. If not for ( w w w. Glowban circuit .Tech ) i checked .. They were the ones who assisted me to get my funds back.

NAME- AARTI RAJENDRA GAIDHANI
NASHIK MAHARASHTRA
CHIT NO- 85034/39

I have chit [bhishi] of RS- 10 lakh
for the first 8-10 months i have paid regularly, but from last 12-14 mOnths due to some medicle reson & bussiness lost i have not able to pay regularly. now i want to continue the bhishi . some time is needed to pay due amount, plz cooperate..

regards-
AARTI R GAIDHANI
MOB- [protected]
EMAIL- [protected]@GMAIL.COM

Shriram City finance yap 5000 send loan amount April /5 /2023
Shriram finance app amount not send do only why problem sir

We had joined a chit group in 2021 a 10 lakhs group, on which we had bid and got the chit sanctioned on December 3rd 2022, still have not received the money, they keep delaying saying one reason or other. Our native is pondicherry, but family shifted to Chennai where our permanent address for communication is. Me and my husband stay in Mysore due to job. Our ID proofs will have any one of these addresses, stating this as a reason they are not settling Our money, out of the bid amount 660000/- we are depositing in shriram chits itself, rest only we are asking to disburse as we are in cash need, my daughter was hospitalised with dengue fever and discharged yesterday. We want that money badly, but these people in SHRIRAM CHITS KANCHIPURAM BRANCH are BIG TIME FRAUDSTERS. my suggestions don't go with them.

Myself Sasikumar. M. I put an insurance policy called Road safety club in Shriram chits Pvt ltd, Pollachi this is a money-back policy tenured period 8 years, logged on 02/12/2002 terminated on 02/12/2010. I inquired in Shriram chits Pollachi nobody gave prompt response for renewal and to retain the amount. how should I able to get the money.

My Policy Number#: 350329

Please provide us a possible solution,

Dear sir /madam
I am chit holder TANUKU BRANCH 3352 CHIT NUMBER[protected] i am action taken chit September 9 th month i am all documents guranter sign submitted. but still not received payment manger not lifting Phone cals not answering . manger answering company account insufficient funds. still same answer i am decided inthis issues chit act court case filed against company and manager.manger very bad comments . Manger last 1 month same answers today issued tomorrow issue every day same answer last 5 days not answering phone calls . I am decided compliant RBI and court case filing i this issue.

Thanks & regards
Thota Naga Lakshmi
[protected]

Joined in FD Last year 2021, Nov -25 for 1 year tenure.

FD matured on Nov 24, 2022, but still having trouble in getting the matured FD amount.

It is easy to put money in Shri ram chits and all the employees show their best in collecting money from customer.

But when it comes to getting back the money, you will feel hell experience.
I faced the same when getting the chit amount and now the FD maturity amount.

Employees work in snail pace when it comes in giving back the money to customers.

Never I will invest in Sri Ram Chits and never recommend any of my relatives and neighbours to do the same.

I am R Raghuraman one of your valued subscribers of Shriram Chits Pvt Ltd, Mylapore Branch, Chennai. I have a very good relationship with shriram chits for about a decade.
My chit value is 10 lakhs - (Rs 20000/month * 50 months). I visited your branch personally in the first week of June and met your concerned personnel. I am working in a private organization with qualifications M.Com, MBA, CAIIB, PGDPM. PGDC and I have huge financial commitments. I went in-person and enquired if i can enroll in a new chit scheme to counter my requirements. With all due respects, and considering my financial commitments or obligations, I met the personnel in the Mylapore branch, Chennai during the first week of June 2022. I took the chit application form. They had insisted that I take an insurance premium of minimum value of INR 41000 per year considering the urgency. They had promised that they would provide me with the amount of 7 lakhs. They told me that I can proceed only if I give them 41000rs and then collected a cheque of the same amount from my residence in the month of June itself. I also paid 57400 rupees for three months' chit in advance for monthly chit payments. Even after requesting them to consider my financial commitments, they made it mandatory to pay the sum of 41000 so that they can arrange for the chit value for the amount of 7 lakhs. Hence i had to take a loan for that amount despite my financial commitments and paid the 3 months amount of the chit.

They asked me for 4 sureties for submitting my application of which 3 government and one private. Whatever the norms that they had asked, I visited them personally to their respective offices and arranged for the payslips during the first week of July 2022. Everything was submitted successfully. Mr. Mahendran, manager of shriram chits assured me that he will conduct the auction process and give me the amount as soon as possible. I got no updates regarding the auction process and he never picked my calls and I had to follow up consistently. Then again, Mr. Mahendran himself got back and said that he will conduct the bidding process in August. I had to run from pillar to post to get this done. On 24th of August, I was informed that I was successful in the bid. Due to urgent financial commitments I had wanted it urgently, and had asked them when the amount will be credited to my account. They had replied that it would be credited in a maximum duration of 15 days which was September first week.

In the interim, one gentleman named Sharath, manager of Shriram Chits was introduced to me and he also told me that they will credit the amount soon. But they asked me to pay an additional amount (insurance premium)so that they can speed up the process. I explained my commitments to them once again, and told them that I already paid the insurance premium of Rs 41000/- due to the urgent requirement of 7lakhs. I had to run pillar to post to arrange this amount (Both chit monthly payment and insurance premium amount). Most of the time they didn't answer my calls either. In the meantime, another person named Karthik, manager of Shriram Chits, Mylapore branch was introduced to me, saying he will be visiting and verifying with the sureties. He had gone to their offices and met them personally, took photographs, got their recent payslips - all these were done because of my sincere efforts of getting their appointments with great difficulty. All the three govt officials were occupying top posts having back to back calls, and meetings. Despite their busy schedule, I had to request them to allocate some time for this and got the necessary procedures done. They initiated the process of meeting the sureties only in September, by when I should have actually got the bid amount.

All these abnormal delays were caused by Shriram chits. My sureties were questioning me on why the process is getting delayed and advised me to collect the documents at one go instead of piece-meal. I did this only because o[censored]rgency and for the reason that manager Karthik requested to get appointments. He promised me that everything will get done by the third week of September. But the payment which they had committed had not been credited into my bank account.

I have been keeping on following up with them almost on a daily basis and they have not responded to me. I also visited the branch again in October first week despite my hectic schedule. They replied that managers are getting changed, and it will be done after the puja holidays. Now we are presently in November. When I tried to reach the higher officials of Shriram Chits, I was not able to connect to them. I wanted to speak with the Associate Vice President Mr Suresh regarding this as well, but could not connect with him either. After repeated attempts, and with great difficulty, GM Mr. Balasubramaniam was connected to me on 7th November 2022. I explained everything in detail. He said he will check and call me immediately. I was waiting for more than 2 hours. Then I tried to reach the telephone operator. She cited various silly reasons like lunch time, etc and did not forward the call to AVP. Again on Tuesday, when I tried to connect to Mr. Balasubramaiam, the telephone operator, told me that he was in a meeting and promised to give me a call back. I have been repeatedly calling them, but no proper response from their side.

I have been put into great hardship and subjected to mental agony, pain, and pressure. Since i already have huge debts over 50 Lakhs, I request your good selves to kindly arrange me to compensate with 10 times of the chit value, Rs 7 lakhs * 10 = 70 Lakhs. I also request you to get me back my insurance premium that I had paid in the beginning. Please consider all the above factors - financial commitments, personal life, and pressure that i underwent. I never expected this kind of service even for a valued subscriber who has had a relationship with the company over a decade. This tantamounts to deficiency in customer service.

Sir,
Chit Ref. No.[protected]
I have taken Rs.5-0 Lakhs Chits last month
and ready to give my life insurance Policy from SBI as surety, paid up amount Rs.6-0 Lakhs, coverage 15-0 Lakhs,
But they are NOT considering the Policy as surety and asking for two Govt. working Staff as surety (I don't have sir),
So kindly take my SBI LIC as surety and release the Payment,
OR
give that bid to someone in the Group since it is 5/50 months only completed,
OR
Cancel my Chit and adjust the paid up amount to my Mrs.Uma Maheswari Chits[protected] future 4 dues (36/40 paid),
Thanking You
V.Soundararajan
[protected]

Hello, I had opted for Rs.10 Lacs chits for 48 months. After paid, Rs.1, 60, 00, I got a negative feedback from various resources about this and voluntarily terminated and informed thru mail, phone and branch to return my paid money. Despite of phone confirmations, got a numerous calls to continue and told firmly not to proceed. Even after 16 months, they did not return money. Then escalated step by step, Helpdesk, Branch, Division, HO and then VP, Compliance. But pathetic response. Eventually after heavy mail exchanges, they have deducted Rs59000 (fifty nine thousand) from my paid money as a PENALTY, where there is no written record published or signed by me for 5% of penalty of Chit Value, , which is ridiculous. Complete Cheating. Never shared these information's to the client. Request these forum to get my deducted penalty money along with 16 months interest component

I am member of chit 4270/265019/9
I have around 10 chits at Purasawalkam branch for last 15 years
I had bid above chit on 22 Aug 2022
and had submitted all required documentation on time
I am yet to get the prize money even after 43 days
My complaints to their Greams road ho since 10 days is not resolved
Need prize money with interest @ 18 % from 22 Sep 22

My Shriram chit reference number is PMT07/29 Name : V Uma nageswari
I was completed my chit in July 2022.
But your staff cannot give my records ( (bank checks, gaurantar bond etc) chit value is 10 lakhs,
Chit started in January 2019
Chit completed in July 2022
I requested you please give my record

Auction Completed one month back. My chit amount not released even after a month. We had told them that we are going out of station and wont come back in the near time and requested them to finish all document formalities infront of them before we leave. They said ok and all the signatures were completed. Now we are out of station and they started drama by saying some signatures are still missing etc... This is really pathetic. I need a resolution on this.

This is not first time. Last time we had completed auction for another chit and Shriram Chits literally shown us torture to release our amount and they took more than 2 months to release the amount. They had forced us for extra investment and then only they said they will release the amount. They did lots of drama.

This branch is worst. I never suggest any person to opt for Shriram Chits. Its a fraud company.

Branch Code: 3500
Group No: 67011
Ticket No: 35

They take your money your money and never listen to you report them now to glo ba lrec over yfu Nd .or g they will help you retrieve your money

No response, very slow to say sorry that to recently. Manager not lifting phone. I am a member of chit .I have deposit also we are regular payers.

I live in gandhi nagar, coimbatore-641024.In my locality there are around 10 or more dogs creating lot of disturbances and nuisances. There are lots and lots of dogs in this street and they occasionally run across a speeding vehicle causing mishaps to the travellers while them themselves escape with little or no injury. Things have gone from bad to worse in the past few months with incidents occuring almost everyday and night whenever I try to use the lane to reach office. The worst of them is the dogs which always chase almost anyone who tries to use the street. I have missed serious injuries more than a dozen times now.
.So i request u to send the dog catchers team, as early as possible.Plz do the needful