We have been associated with your company as a subscriber of various chits in the past. You can also refer the chit No. BLTO/F/37 where, in we have paid all the chit amounts in time. We have arranged the sureties with in 7 days of the auction, but we have received the bid amount after 3 Months. We have addressed one letter for payment of interest for delayed period. It is surprising to note that we have not received any reply to the letter. As there is no response from you even for the letter and now payment of interest for the delayed period, we have lost the faith on your company and discontinued the chit BLT 02 F1-11 and suspended the payment of further installments. You have unilaterally decided to pay an amount of Rs.4200/- towards the installments of Rs 11850/- by your removal letter without asking us the causes of discontinuation and payment of interest for delayed period.
Now we are reiterating that due to delay in payment of interest only, we resorted to discontinue the chit. As there in a mistake on your part for non payment of interest and without giving an opportunity, we hereby asking you to pay the interest for delayed payment of bid amount and return the installments of Rs. 11850/- paid by us in respect of the fresh chit taken by us.
Hope you will pay interest and return the installments of Rs 11850/- at the earliest to repose the confidence on your company.
If we don’t receive the interest for delayed period and the amount of Rs. 11850/- is not returned to us, we have to resort to the court of law for seeking the justice.
To day the branch manager of Kapil chit funds bobbili is telephoned me and threatened that he will present cheques for future liability which was given for security purpose.
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