Shriram Chits Complaints & Reviews

I have autioned the ten lakhs chit on 16 august 2019in na d branch visakhapatnam. For a loss of 115000 and balance 11 months more for that i told them to deduct and give the balance amount. And they agree for that and told me that i l get the money in the next month of march dated 16 from their on i am calling to the branch manager he is not not picking my phone and i am calling to dm he is also not picking my phone. And the documentation people is not giving proper response is this is achit fund company or cheating company. I think company having no funds to give money its better to shut down the company
And same mesage i l pass to chit registar and a copy to media and i take neccessory action.

Every month i do not get intimation of my due to amount to pay for that month neither thru e-mail not sms. I don not know the amount so i donno how much to pay. Once in two months the branch manager calls to inform me the amount. My chit is existing in himayatnagar branch. So i pay two or three instalments through internet banking and send the screenshot to him. I did this for the past 1 year now. Since two months ppl are calling tht i have not paid for 5 months. Looks like the payments are not updated in you systems. Please look into the matter and do the needful.

With respect to above subject i had chit with shriram chit fund i had pickup chit on 5-2-2019 after paying 46 instalments. The manager had promise me that you will receive price money in short time, but today almost 46 days gone the shriram chit-fund company not give me price money cheque nor credit to my account. This is my second complaint few years back they had done like this, but there authorized manager had promise, this will not repeat in future. Please contract me [protected], email. [protected]@gmail.com

Hi my father has fixed deposit in shriram. Mature in april 2018. Till date amount is not refunded. Wilson garden managers are not ready to talk and help to slove the issue. We have running pillar to post for help. But no one want to understand the pain and mental troucher my family is going through. Plz help me with correct person detail who can help.

Shriram chits is a company of fraudsters. Do not ever believe in them.

An agent (Raghavendra rao) and manager (Murali krishna) of mvp colony branch have given false commitments to my elderly parents and trapped them to pay insurance policy of 25k per months for 40 months. They have stated that they would provide a 10l chit if they pay the insurance policy.

After paying the policy, now they speak as if they don't even know them. And they don't take a complaint against these falsified people.

Moreover, there is no process that handles customer complaints in shriram chits. All you have to contact is only these fraudsters as the manager himself is involved in this.

Plz don't ever believe in these chitfund people and especially shri ram chits

Shriram chits is a company of fraudsters. Do not ever believe in them.

An agent (Raghavendra rao) and manager (Murali krishna) has given false commitments to my elderly parents and trapped them to pay insurance policy of 25k per months for 40 months. They have stated that they would provide a 10l chit if they pay the insurance policy.

After paying the policy, now they speak as if they don't even know them.

Plz don't ever believe in these chitfund people and especially shri ram chits.

Dear sir/madam,

I am mahesh m c bearing chit ref no : 8008/41/hindupur/br. I am from a bpl family where i cant afford money for insurance. We told agent if required will do an insurance for 20k below. But the agent did an insurance of worth 62000 with out my knowledge and deducted the cash from my bank account through the cheque without my consent. Please address my grieviance by cancelling the insurance and return my money back.

I request agent rangappa to cancel my insurance and return my money back.

Thanks,
Mahesh ([protected])

From
Potnuru rama mohana rao
Kaki veedhi,
Srikakulam-532001.
Andhra pradesh

Sir,
I potnuru rama mohan rao s/o late ramanaiah resident of kaki veedhi, srikakulam town. By occupation, i am a junior accountant. With my minimum savings, i used to be a registered subscriber in your companies small chit lots.
I personally referred many subscribers to many of your companies chit lots. I would like to bring to your notice and kind attention to look into one of my ever bad experience/issue with companies action against me.
In the year 2012, one of your agent named andhavarapu raghava kumar working at srikakulam branch, who is a known person to me, introduced his close friend korada chandra sekhar rao, who owned sri devi medical agencies in srikakulam.
These two people made me believe that korada chandra sekhar rao is financially viable person and having a turnover of 1.5 crores per annum in his medical business along some good immovable properties. I haven’t sensed any foul play against me during that course.
After few months, above people came to me and requested to be one of the sureties for korada chandra sekhar rao 5lacs auctioned chit (Ias. 22/46) along with andhavarapu raghava kumar & j sadasiva rao resident of chapara srikakulam dist.
All these people convinced me with a valid proofs of income tax returns and other allied documents and made me believe them, that they are going to be prospective sureties for my upcoming chits in case of auctioned.
With common man heart, i trusted these people and co-operated for being a co surety holder for korada chandra sekhar rao.in similar fashion andhavarapu raghava kumar helped korada chandra sekhar rao to get two more auctioned chit amounts by arranging few other surety holders for him.
Not sure of andhavarapu raghava kumars interest in these cases. Further, i came to know that korada chandra sekhar declared as defaulter for his amounts payable towards the outstanding chit amount subscriptions to the company.
For which, your company started legal proceedings like issuing legal notices and so on.in this regard, i made an attempt to meet the branch manager and explained about the facts.
Then the defaulter korada chandra sekhar and other surety holders approached me and convinced me, not to worry as they are going to settle all dues to make good of the transactions.
After days, legal notices were issued to me again for the defaulted payments. Again i approached your agent and the other co surety holder andhavarapu raghava kumar and explained the situation. He promised me that he will look into the matter and settle with the company by repaying from his commissions earned.
Not sure, what happened from the company side and i was surprised to notice that my name was put on primary and responsible person to pay the defaulted amounts of the auction holder.
I still don’t understand on what grounds every other surety members were not asked to share or repay the outstanding amounts.
I bring to your notice the following facts, which you can still go a head and verify or scrutinize to understand my mental agony and financial situation.
The said andhavarapu raghava kumar’s holds a pan #afvpa3798r and he is earning 15 lakhs (Rupees fifteen lakhs) per year as commissions, where were paid by the offices of “shriram chits co., shriram city union finance ltd., shriram financial products solutions and shriram life insurance.
This person is working as agent in your company for the last 10 years. Your branch manager and your office employees purposely voluntarily exempted this person and others to make me scape goat to face this case.
The auction holder’s wife is running a beauty parlor and earning good income and their son is working as software employee.
Your agent is familiar with these kind of activities and deceived many others. Further, if your company would have believed and know the facts about this person. By now the amounts would have been recovered from this person along with others who are related to this transaction.
I submit that, i am a small clerk with limited income and having two studying children. My son is studying b-tech and my daughter is studying intermediate.
With this mental agony and tension, my health got spoiled with high blood pressure and diabetes. This caused me to effect my daily activities and for which i couldn’t support my children for their basic needs.
Therefore i pray your good self to make an enquiry in the above matter and help me to make me tension free. I would be very grateful for any kind of positive action considering my chaos and hardships in this matter.

Thanking you sir,
Your’s faithfully,

(Potnuru rama mohan rao)
Chit account holder
Srikakulam branch.

Sir, my mother who is widow working as assistant in govt college. My uncle took my mother salary slip and aadhaar card copy from my house and made my mother as surety in sriram chits pvt ltd without my mother signature. My mother never went to sriram chits company to make any signature nor company people never verified any records of surety. Now sriram chits company people issuing notice to my mother as my uncle failed to pay the dues... My uncle took the money in 2013. What action we should initiate to safeguard my mother...

Respected sir,
I am manga thayaru subscriber of sriram chits since from ten years. Meanwhile suddenly shriram stepped in to the insurance business. When ever
Subscriber bid the chit theyâll ask the members to invest in to the insurance, if they are not interested the chit was not released. Some time theyâll mislead the clint like,
Theyâll tell the clint that the money will return after five years and they invest for fifteen years. (Why because manager will get the incentives, only if it is long term only) most of the shriram chits clint's are uneducated and womenâs. They don't even know what is insurance.

Some times if clint bid the chit and asked the manager to deposit the prized amount, then they will ask the clint to invest in insurance, if clint is not interested, the manager will deposit the amount in to the insurance without any information to the subscriber. Sometimes they wonât release the amount and toucher the clint till they agree to give the insurance.
Some times non prized chits are prized without information of subscriber, and deposit in the insurance. (Clint think we have the chit, whenever money need, we can bid the chit, but whenever clint come to know, the chit has bidden, if they ask the manger will prolong the problem, like we donât no, or manager is in leave, staff will tell the lies. But there is no use, purpose of chits, the clint lose the money and time
Some of my friend's there, they will come and give all the evidence.
Like wise so many incidence, many of victim are there by loosing every thing and comeâs on road by shriram.
One of the victim by shriram is me.
I am one of the clint of shriram chits i have invested my money in chits. Even chits also theyâll cheat the clintâs, like" we give the first chits if you give three chits.â they beg like beggars, because they have to float the group, after joining the group they donât even bother or donât give the right response also.
All of the sudden shriram # stepped in to insurance chits. So they have to do business, the higher officials of shriram started giving the targets to the managers by offering huge incentives to do the insurance. So managers started cheating the clintâs first they requested the client, if they are not interested, the manager will not release the chits.
So whenever i bid the chit, they requested me to invest in the insurance, the insurance is not wrong so i but after some limit they started cheating.
I have several chits, whenever i bid they will start begging. Some time if i give the cheque to chit payment, they deposited in the insurance. When i notice i asked the manager theyâll replay, â because of targets we deposited, so you can cancelled it, when ever you receive the document, so donât pay the chit amount this month we can manage. So i agreed. That time i dinât have much knowledge about insurance
If we want to cancelled, it will have some grace period, in that grace period only we have to cancel, if not policy will not be cancelled. They donât give the document in that grace period. If we ask they will tell us we still not receive, or other reasons, after grace period theyâll give. We canât cancel. What ever we pay will be totally loss. Like they cheated 2, 50, 000 thousand rupees.2, 50, 000 is not a small amount, so i continued. Some without my husband sign.
Nnioi[protected]ââ 100000 â-2015 â- 5, 00, 000 (A. Srinivas)
Np[protected]ââ- 200000 â-2015â 2, 00, 000 (A. Srinivas)
Np[protected]ââ 50000. â2013â 1, 44, 000
Np[protected]ââ 50000 â-2013â 1, 44, 000
Np[protected]ââ 250000ââ2013 â12, 50, 000
Np[protected]ââ 50000ââ2014â 1, 00, 000
Np[protected]ââ 50000ââ2013â 1, 00, 000
Np[protected]ââ 20000ââ2012â 1, 00, 000
Np[protected]ââ 50000ââ2013 â 1, 00, 000
Np[protected]ââ 50000ââ2014â 1, 50, 000
Nn[protected]ââ 100000ââ-2014- 2, 00, 000 (Alsnvikyaath)
Np[protected]â[protected]â 40, 000
Np[protected] ââ- 20000 â 2014â 80, 000
Np[protected]ââ- 100000ââ2014â- 5, 00, 000 (K. V. Lakshmi)
Total (41, 20, 000)
Lniiiiooo74702 âââ- 1, 00, 000â-2011 (Closed)
Lniii[protected]âââ 2, 00, 000â-2012 (Closed)
Ln[protected]âââ 50, 000â-2012 (Closed)
Npiiii00128102ââââ 2, 50, 000â-2011- (Closed with loss}
(41, 00, 000)=47, 00, 000
Now if i close all my insurance, they are telling me, that i will get 5, 000, 00 only. I paid near about 47, 00, 000. Difference 42, 00, 000. How i can rectify all this total loss. All this amount invested from chits. So i have to pay chits, at the same time, i have to pay my loans, at the same time i have to look after my insurance. So i have to plan every moment, still i am doing my level best, but whenever i need any information, or any service, they donât even cop-rate, at the same time they behave with recluse. Because of this, i could not able to submit information to income tax, so i paid penalty to income tax 23, 00, 000.
Why i dinât gave the complaint on those days, because i donât have the proper evidence, at the same time i drone into financial crisis, because of shriram chits, at the same time i thought customers whoâve invested will take care about their money, company will look after that, but day by day company is doing fraud, itâs turning like a big financial scam. Why i know this again they started same game with me. I can sustain, but what about other customers, who doesnât know about the insurance, loosen the money what they are investing. Why only shriram chitâs doing fraud, other insurance company not doing? Here chit customers are base to target, and higher officials of shriram are forcefully giving the targets indirectly they are encouraging, to mislead the customers, because they will get the heigh incentives. Without knowledge of higher officials, notting will happen. Other companies have no customer base, so they have to sell need base insurance. They will explain the purpose of insurance, and sell the customers, who really afford. Sriram chits doing insurance business under the chit business.
Before investment they will promise one thing, after investment they donât even bother. Only managers, staff, agents are getting benefits one of my insurance is money back policy. I paid 12, 50, 000 rupees.
Np[protected]ââ 250000ââ2013 â12, 50, 000 after six years i will get 6, 82, 000 rupee cheque. So i got 6, 82, 000 rs cheque. I have given this policy as a surety one of my chit.. So they told me that cheque will on shriram chits so i agreed and said to them not use the cheque because of income tax problems. I am paying the chit up to date. The future liability of that chit is remain 3, 00, 000 rupees.
I spoken to the manager, he agreed. Next day i got one massage, stating that âthank you for paying 6, 82, 000, â
For the chit. Again same behaviour, same recluse. If we ask they will give some stupid answer. We will tell one thing, they will do what ever they feel. No rules and regulations.
Customers are suffering and given the complaints, so they changed the strategy, so now they are not taking insurance direct from the chits. New strategy is client have to pay before releasing the chit. Some people will not have much money to invest, so agents pay the money like a financier, for the business and commission. If not chit will not be released. So they are doing insurance business under chit business. Even staff also working like an agents, for an incentive greediness. Managers, agents and staff also doing fraud, and miss guide the client. Also i am an educated i have been cheated, and what about uneducated, and common people. So i am giving written complaint on
Chit ed shaker, chit ed durvassan
Chit ceo ramesh.
I have spoken to assistance commissioner of police. So he

Sir,

As we have shriram chits initially duration period of 40 months and we have taken the bid amount at the time of our 35th month, when we requested the amount agent said that need to provide 2 security from the government job staff at the time we had one security the agent said there is an option instead of providing the security you can join in life insurance plan duration period of 5 years. Later we come to know no need to provide 2 securities only one is required when there is a pending of only 5 months in chit. Before we join to life insurance the agent promised us that there is a 5 year duration period after complete the 5 year you will get more than 1lac based on the policy. Like a way we joined and we paid yearly 15000 at the time of 5th year we check with the agent for closing our life insurance plan, he said that we need to continue for another 5 more years and if we closed now we will get only the 30000 but we paid till now 60000, the agent and the rm were spoken to us very hardly and they were cheated us. Please take a complaint this and do the needful of getting our actual paid amount of 60000.

Dear sir.
I have purchased tvs xl 100 50%, amount paid another 50% loan total 11

Month loan i have paid due already closed last 2 month befour but still i am not received your employee not support customer. I really stealing. Customer support very worts customer support in shriram chit

Tvs xl 100
Tn-51
Ah 4456
[protected]
S/o raju
R. Vinoth kumar. R
Foxconn it


Still now not clear
What is update

I am a successful bidder of a chit valued of rs.25, 00, 000/- about 3 months back in their himayatnagar branch. Post bidding i have submitted security of 3 open plots within 30 days. The branch staff are delaying the verification of documents under one pre-text or the other. It takes a minimum of 15 days for just passing the documents from one table to another and they finally referred the documents for a legal opinion and the panel advocate took more than a month to just call for what is required. My moneys are held up with them and the whole staff join with each other to behave carelessly to delay the payments which attracts interest.

Dear sir.
I have purchased tvs xl 100 50%, amount paid another 50% loan total 11 month loan i have paid due already closed last 2 month befour but still i am not received your employee not support customer. I really stealing. Customer support very worts customer support in shriram chit

Tvs xl 100
Tn-51
Ah 4456
[protected]
S/o raju
R. Vinoth kumar. R
Foxconn it

Mr Anjaneyulu manager at Chikkadpally branch at hyderabad behaved very rudely with me and my wife when we went to branch to know about our non clearance of cheque which we gave for clearance of 1 lake personal loan.
Loan was taken in the name of Y. Data see Devi.

Me Y Mahesh Kumar and smut Y Satya Sri Devi are regular customers in Sri ram chits since 20 years.

For your information and upkeeping the dignity of the company

Customer service is pathetic.. The beach office is nanalnagar, hyderabad, telangana.500028, please take immediate action against the respective employee of this branch as they don't know how to behave to customers..
They must know the customer and reolve their iisues correclt and promptly without any hassles, i did not expect this type of service with this particuar branch, mehdipatnam, hyderabad

It is been two months ur collecting agent didn't come to collect the money. He was saying he was got in personal work. How it will be our problem. Now why we want to pay together the same amount what profit we are going to get. It will make as a default list. Please take immediate action or else we will close our fund. Is this way u treat people. My ticket 9577/05

In the name g suresh with ref:3528/53008/22 chit fund scheme registered with surity of k pradeep reddy.
I, k pradeep reddy signatures foreged on registration on chit fund papers with my documents no agent has contacted for the surity approval. With that forgery on documentation. Branch manager, vanasthalipuram, hyderabad - 500070. Involved me as a defaultor.
When contacted branch manager he told me that executive forged your signature put case on him.

3 month ho gaye sab amount dekar. But abhi tak bank me ecs lag raha hai, aur bouncing charges lag rahe hai. Bm ko 10 baar inform kar chuka hun. An tak koi sollution nahi. Itani third class service kahi pe bhi nahi hai. Mera nuksan huye wala amount mujhe to cahiye. Aur bouncing ke wajah se mera bank me naam kharab hua hai. Mera 5 laakh ka loan nhi hua. Inke wajah se

Chit money not giving till date. After so many follow up with shriram chits Annanagar office. No use.

They used my car for so many months.

when we ask money they say wait two days or officer out station and keep on lying. I donot know th reason.

please look into this and do needful. Any clarification please call me.

With regards,
S. Parth sarathy.
Annanagar. Chennai
[protected]