Thota Srinivasa Rao
New member
- Dealer Name
- Kapil Chits (Kakatiya) Private Limited (Vijayawada Regional Office)
- Company Name
- Kapil Chits (Kakatiya) Private Limited
- Customer Care Number
- 9396999453
- Loss Amount
- 1500000
- Ratings
- Opposite Party Address
- H.No. 2-5-760, Kapil House, Subedari, Hanamkonda, Warangal, Telangana, 506001.
GRIEVANCE DETAILS:
I, a senior citizen suffering from thickened heart valves and hypertension.
UNAUTHORIZED FUND DIVERSION: Won the bid for ₹10,00,000 in August 2025. Instead of disbursing the cash, Kapil Chits unilaterally diverted the entire amount into an unauthorized real estate "Put Option" land scheme with their sister concern, Ramya Constructions Limited (Cert: SAHRB/RAM-AMR/K8/2025). This was done saying it as deposit and purely for the sake of marketing commissions.
HARASSMENT OF HEART PATIENT: Despite holding a surplus of ₹10,00,000 of our money, the company is harassing me and surities for monthly installments. Agents Narendra Viswanadhapalli (9618255749) and B. G. Manjunath (7799951035) are making continuous threatening calls, causing severe physical and mental distress to a heart patient.
INTIMIDATION OF SURETIES: The company is now threatening our sureties with legal notices to force us into submission. When we asked to refund the due of our 10 Lakhs credit balance, their team claimed that "government complaints won't help us"
.
The company is acting in defiance of the Chit Funds Act, 1982, by misusing the "Foreman's Satisfaction" clause to force land investments.
RELIEF REQUESTED:
Immediate reversal of the unauthorized ₹10,00,000 land advance into a cash RTGS refund.
Immediate "Cease and Desist" of all calls to our sureties.
Waiver of all unjustified penalties and payment of 3% monthly penal interest for the delay.
Action against the agents for coercive recovery and senior citizen exploitation.
I, a senior citizen suffering from thickened heart valves and hypertension.
UNAUTHORIZED FUND DIVERSION: Won the bid for ₹10,00,000 in August 2025. Instead of disbursing the cash, Kapil Chits unilaterally diverted the entire amount into an unauthorized real estate "Put Option" land scheme with their sister concern, Ramya Constructions Limited (Cert: SAHRB/RAM-AMR/K8/2025). This was done saying it as deposit and purely for the sake of marketing commissions.
HARASSMENT OF HEART PATIENT: Despite holding a surplus of ₹10,00,000 of our money, the company is harassing me and surities for monthly installments. Agents Narendra Viswanadhapalli (9618255749) and B. G. Manjunath (7799951035) are making continuous threatening calls, causing severe physical and mental distress to a heart patient.
INTIMIDATION OF SURETIES: The company is now threatening our sureties with legal notices to force us into submission. When we asked to refund the due of our 10 Lakhs credit balance, their team claimed that "government complaints won't help us"
.
The company is acting in defiance of the Chit Funds Act, 1982, by misusing the "Foreman's Satisfaction" clause to force land investments.
RELIEF REQUESTED:
Immediate reversal of the unauthorized ₹10,00,000 land advance into a cash RTGS refund.
Immediate "Cease and Desist" of all calls to our sureties.
Waiver of all unjustified penalties and payment of 3% monthly penal interest for the delay.
Action against the agents for coercive recovery and senior citizen exploitation.