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Telangana Consumer Commission rules in favour of chit fund winner denied Rs 15 lakh payout

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A chit fund subscriber in Telangana won a Rs 15 lakh prize but faced a delayed payout from Kapil Chits. The company claimed the delay was due to the winner, Eashwar, submitting the required surety documents late, which needed verification before funds could be released. However, the Telangana State Consumer Commission found that the company's own records contradicted this claim. Internal documents showed that the sureties had in fact been submitted on March 28, 2019. The Commission ruled in Eashwar's favour, providing him relief against the company's justification for withholding the prize money.

Read the full story at Times of India

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Telangana Consumer Commission rules in favour of chit fund winner denied Rs 15 lakh payout · ShortSingh