I had deposited some x amount in this XYZ chit fund pvt ltd before demonetization. And now after all these months when i ask them to return my money they are not ready to return it.
They are giving me Reasons like "We are in problem after demonetization" and hence can not give your money back for now.
They are not paying the interest amount too after demonetization and when asked they are saying they cannot even pay interest amount and need time to pay my principle money.
And after all these drama they want to pay me 10,000 each month as in my principle amount and no interest included.
If calculated i should receive around 7000 as an interest per month for my principle amount. If they pay 10000/month its is going to take years to pay my principle amount that to without interest and it does not serve my purpose. As i kept that money aside as savings.
What can be done to deal with these people? Please suggest.
What legal action can be taken to recover my money.
And i have a "Consideration receipt" signed and provided by them saying they have received money from me and also a blank cheque at the time of depositing as a proof.
Note: Consideration receipt says that they have received the amount in the name of some ABC Rice mill (which belongs to the owner).
But the owner is running this chit fund company in the name of some one else (Benami).
!!!! PLEASE ADVICE !!!!
