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Suerity
3 years ago
Hi sir, could you please provide us suggestions on how I would go on legally if I given my name as suerity for chit fund as one of my friend taken chit from kapil chit fund and I have signed as one of the suerity. Is chit fund people have rights to legally on me if my friend not paid ammount. The chit fund people are threatning me to provide notice to my working company to with held salary for recovery. Is it legally correct. Please help me to understand.
Ankur Goel @ Complete Law Shield
Responded 3 years ago
A.so while signing you thought they were taking your autograph ?
if the chit fund is registered which it looks like then you are liable.
But cant send notice for salary.
They can file case and you have to fight it.
if the chit fund is registered which it looks like then you are liable.
But cant send notice for salary.
They can file case and you have to fight it.
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A.Dear Sir,
It is not correct. Send notice withdrawing your suretyship.
It is not correct. Send notice withdrawing your suretyship.
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A.Hi,
Yes they can make you liable to pay as you are the surety, but you could legally challenge them. Consult with an advocate.
Yes they can make you liable to pay as you are the surety, but you could legally challenge them. Consult with an advocate.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
Since you have not mentioned from which state you belong, I cannot comment on whether chit fund is legal in your state or not, but if it is legal they can legally enforce the surety, i,e, you will have to take the responsibility. But it can be challenged, consult with a lawyer to proceed.
Since you have not mentioned from which state you belong, I cannot comment on whether chit fund is legal in your state or not, but if it is legal they can legally enforce the surety, i,e, you will have to take the responsibility. But it can be challenged, consult with a lawyer to proceed.
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