Chit fund Fraud

There is no secutiry for your amount though bond has been given to you.  better file a criminal and civil case against the chit fund company/person to recover the amount.  because he is cheating. it is upto you to proceed or not?

Thanks a lot sir  for your advice.

I will sure file a criminal case against chitfund, but my only concern is that , will it be too expensive to complete this process?

FIRST OF ALL IS THE CHIT FUND REGISTERED LEGALLY. SECONDLY, THE CHITFUND CANNOT GIVE YOU A BOND PAYABLE IN 2013 AS CHITFUNDS ARE NOT NBFC'S AND THEY REQUIRE PERMISSION FROM THE RBI TO ISSUE BONDS AGAINST DEPOSITS, IF THEY (I FEAR) DON'T HAVE THE REQUISITE PERMISSIONS THEN YOU MAY NOT GET THE AMOUNT EVEN IN 2013. THE ONLY COURSE IS TO FILE A POLICE COMPLAINT AGAINST THE CHIT FUND MANAGEMENT FOR CRIMINAL BREACH OF TRUST AND CHEATING.  EXPENSES MAY DIFFER ACCORDING TO THE CASE, IT IS VERY DIFFICULT TO SAY HOW MUCH IT WILL COST BECAUSE YOU END UP BRIBING THE POLICE, PAYING THE LAWYER'S FEE, COURT RELATED EXPENSES, WASTAGE OF VALUABLE TIME AND ENERGY.

i joined in a chitfund( not registered) conducted by neighbor for 2,00,00 rupees. i paid 5 months after that i could not pay , so i asked to return the paidup amount. but he is  not ready to repay the amount. now  15 months have gone. now he could not conduct chit and all members are asking their money back. his response is the same for all. still not ready to pay my amount. can i send lawyer notice  for recovery of money or file cheating complaint in police station.