A Bengaluru man who paid Rs 12,500 every month for 40 months into a Rs 5 lakh chit fund scheme received only Rs 20,000 after winning his bid, prompting him to approach a consumer commission. The commission has now directed Samith Chits Pvt Ltd to pay him the remaining Rs 4,07,940 with 6.5% annual interest.
President Syed Anser Khaleem and two members, Bangalore 1st Additional District Consumer Disputes Redressal Commission also ordered the company to pay Rs 3,000 towards proceedings costs after finding deficiency in service and an unfair trade practice. The order was pronounced on September 28, 2026, in a complaint filed by Vishnuprasad against the chit fund company.
