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.
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