The Economic Times

Chit fund didn't pay Rs 15 lakh prize money to the winning member for 55 days; consumer commission orders Rs 44,500 compensation and refund

A Telangana consumer commission upheld 25,000 compensation after finding Kapil Chits delayed a successful bidder's 15 lakh chit prize by more than 55 days. The company had argued that the sureties were submitted late, but its own records showed they were furnished earlier. The consumer also received 17,500 refund and 2,000 costs.