| Address: hyderabad, Telangana |
1. I am a participant as a chit fund bearer in three chits run by his company chit details are mentioned below –
a. Chit no. SYT01S42 (VALUE - 2500000 INR) (TWENTY FIVE LAKH RUPEES)
b. And other Two chits’ valued at FIVE LAKHS INDIAN RUPEES EACH.
2. In spite of repeated requests he failed to refund the entire subscribed amount paid by me in respect of Chit No.SYT01S/42 of Sainikpuri branch Value 20lacs, Non paid prized subscriber of auction conducted on[protected].
3. I accepted his plea of not making the payment of prized bid citing paucity of funds by his company and also he is a well-wisher of my father. However he promised to refund the entire subscription as per chit fund act. But now he failed to refund the entire amount.
4. I received the rough calculations sent on whats app on 10.10.2019 to my father. There is a major discrepancy in the calculations. He wrongly mentioned subscriptions recieved as Rs.8, 38, 872/- by excluding dividends, whereas the subscriptions including dividends is Rs.40, 000×28 =11, 20, 000/-+ Rs.3, 000 being the joining fee. Total comes to Rs.11, 23000/- (Rupees eleven lakhs twenty three thousand only).
5. I acknowledge the reciept of refund made by him of Rs.4, 00, 000/- and Rs.1, 52, 561/- totally amounting to Rs.5, 52, 561/- (Rupees five lakh fifty two thousand five sixty one only). I further confirm the deductions for the month of July, August and Sept 2019 amounting to Rs.2, 86, 311/- across all chits including my father's chits.
6. Therefore 11,[protected], 52, 561 - 2, 86, 311= 2, 84, 328/- (Rupees two lakhs eighty four thousand three hundred twenty eight only).
7. He can deduct subscription for the month of October 2019 of my two five lakhs chits Rs.19, 819/- and refund the balance amount of Rs.2, 84, 328 - 19, 819= 2, 64, 509/- (Rupees two lakhs sixty four thousand five hundred nine only).
8. It is also pertinent to mention that the aforementioned person has disqualified me from the chits without any written intimation and has taken away my hard earned money.
9. In this COVID-19 situation I was unable to travel to India and confront him on the same. I am also under mental stress due the financial dispute.
10. I kindly request to address and my complaint and take necessary action
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