Shriram Chits Complaints & Reviews

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 they’ll ask the members to invest in to the insurance, if they are not interested the chit was not released. Some time they’ll mislead the clint like,
They’ll 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 women’s. 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 won’t 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 don’t 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 come’s 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 they’ll cheat the clint’s, like" we give the first chits if you give three chits.” they beg like beggars, because they have to float the group, after joining the group they don’t even bother or don’t 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 clint’s 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 they’ll replay, ” because of targets we deposited, so you can cancelled it, when ever you receive the document, so don’t pay the chit amount this month we can manage. So i agreed. That time i din’t 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 don’t give the document in that grace period. If we ask they will tell us we still not receive, or other reasons, after grace period they’ll give. We can’t 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]—— 100000 —-2015 —- 5, 00, 000 (A. Srinivas)
Np[protected]——- 200000 —-2015— 2, 00, 000 (A. Srinivas)
Np[protected]—— 50000. —2013— 1, 44, 000
Np[protected]—— 50000 —-2013— 1, 44, 000
Np[protected]—— 250000——2013 —12, 50, 000
Np[protected]—— 50000——2014— 1, 00, 000
Np[protected]—— 50000——2013— 1, 00, 000
Np[protected]—— 20000——2012— 1, 00, 000
Np[protected]—— 50000——2013 — 1, 00, 000
Np[protected]—— 50000——2014— 1, 50, 000
Nn[protected]—— 100000——-2014- 2, 00, 000 (Alsnvikyaath)
Np[protected]—[protected]— 40, 000
Np[protected] ——- 20000 — 2014— 80, 000
Np[protected]——- 100000——2014—- 5, 00, 000 (K. V. Lakshmi)
Total (41, 20, 000)
Lniiiiooo74702 ———- 1, 00, 000—-2011 (Closed)
Lniii[protected]——— 2, 00, 000—-2012 (Closed)
Ln[protected]——— 50, 000—-2012 (Closed)
Npiiii00128102———â€Â�...⇄ 2, 50, 000—-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 don’t 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 din’t gave the complaint on those days, because i don’t have the proper evidence, at the same time i drone into financial crisis, because of shriram chits, at the same time i thought customers who’ve invested will take care about their money, company will look after that, but day by day company is doing fraud, it’s 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 doesn’t know about the insurance, loosen the money what they are investing. Why only shriram chit’s 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 don’t 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]—— 250000——2013 —12, 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 “thank you for paying 6, 82, 000, ”
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

1. I was taken bike loan on 24 apr 2018 with rs 25000.00 down payment at narasannapeta branch on monthly premium rs 3193 per month. I was also clear my loan on 06 jun 2018 with rs 50584.00. My loan acct no is nsnpttw[protected]. 2. Now it is observed that on 07 aug 2018, rs 3193.00 haserroniously been deducted from my acct by your branh. I am approached at narasannapeta branch with manager & accountant for refund of my said amount, but they...

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]

With reference to the above subject, i would like to bring to your notice that i have issued a cheque for rs 22000.00 dated 03.12.2016 vide cheque no 179483 of indian bank favouring m/s shriram chits pvt ltd. The same has been cleared on 15.12.2016. But amount rs22000.00 has not been credited to the above mentioned chit, instead they have credited only rs4200.00 vide receipt number[protected]. While inquiring the same through gandhi bazaar branch, staff has informed that remaining amount of rs17800.00 would be adjusted on later date as we had opened chit on 26.11.2016 and the same chit was started prior to our opened date. On inquiring the same at bellary branch, i came to know that the amount of rs17800.00 is credited to chit no 1130/80012/37 of bharathi manjula on 03.12.2016 vide receipt number[protected] with same cheque issued by me. Request you to consider this matter at your end and rectify the same at the earliest on top priority and recredit the amount of rs17800.00 + interest claimed till date

Regards,
S g geetha bai

Hii this is pream chand i bought a bike in shriram chits giddalur branch, i kept the emi process through online transactions or salary cutting but u r team unable to make online transactions and again they are asking to pay directly nd i am staying in hyderabad so how could i go nd pay every month... This makes me alot of problem i already complain about it few times but the giddalur branch unable to make transactions so make sure it clear

I have a fifteen years old two-wheeler, which is yet to expire so in order to get that updated, i visited the rto office and enquired about the process involed.
They said you should get a noc copy and form 35 from your finance support institution that is sriram chits,
So visited the sriram chit office, where officers gave null important to my request and simply said, that much old bike isn't worth, and that too that much old documents can't be searched.
So both noc and form 35 can't be issued.
At this point i don't know what to do, and where to complaint
Help please.

I am having 2 chits with sriram chits neyveli branch, tamilnadu.

Chit value - 2 x 10, 00000 = 20, 00000

I had bit one 10l chit on may 7th 2018 and arranged all the needed sureity and documents and everything submitted to neyveli branch two months back and got the confirmation that i will receive the money in 10 days. Not it been more than two months that i didn't receive the money and worst part is no one has any clue what's going on with this.

I called neyveli branch manager (I don't want even call that guy as manager) 100 times, everyday he says i will get the money today, i also called chennai head office many times but they also doesn't have any clue, simply saying we need to check with branch.

So i am not sure why should i wait for 5 months to get money, will you wait for 5 months if i am not paying monthly due every month? Are you going to pay the interest for my money?

Why the hell i have to wait 5 months to get my money? Are you guys planning to escape with everyone's money?

Till now i tried all the options to get my money, if i didn't get my money then i will have to go to press and file complaint in police station that you are cheating the customers.

I am waiting for positive response.

Thanks
Mohan

Sir,
This is m. S. Devi i am the one of the customer of sriram chits and my ticket no is 65304 /22 i am from pallikarani.
I am paying instalment every month with fine if i am late paying but even though madipkkam branch rm & sankar collection agent are giving torcher to me for everymonth so because of this i am going to die … my another chit hold.

Hello team,

A this is kankanala chowdeswara rao. I am a customer of sriram chits.

I took loan of rs. 1, 00, 000 from shriram chits governarpeta, vijaywada branch. My monthly emi is 6170. My emi due date is 7-9-2018.

Today i. E., 12/09/2018 your manager from the same branch his name is nagaraju (+91 [protected]) called me and said that my cheque is bounced however i'm having money in my sbi account without deducting money from my account how can he drop my cheque and bounce the cheque and the way he is talking to the customer is not at all good, he is very rude and demanding to the customer.

I am sending my account statement also. Please find below attach ment (I am having all proofs).

I have call recordings also.

I request you to take immediate action on him if not i will take legal action on shriram chits so be careful...

Thanks & regards,
K. Chowdeswara rao
+91 [protected], +91 [protected]