SRESHTA CHIT FUNDS PRIVATE LIMITED
# 24-14-4; Peddadavari street, D.N.R. College Canal Road, Srirampuram; Bhimavaram;
West Godavari District, Andhra Pradesh, Pin 534 202,
Phone: - 08816 229257 Mobile: 7382338712,
E-mail:- sreshtachitfunds@gmail.com
www.sreshtachitfunds.com
FAQ's
Q1 : WHY SHOULD ONE SUBSCRIBE TO A CHIT SCHEME ?
A : In Indian social economic life is different from rest of the nations in many respect. The financial needs of the people are met by very special way. The contingencies of future such as Health, Education, Marriages or for any other type future personal and business investments are managed through the cooperation among the village members. Chit funds are such form of cooperation and collective effort. The best part in chit fund is that unlike the other sources of investments such as BANKS or any other investment agency, in which one can get back what one has invested; in chit fund one always gets more than whatever one has invested in that scheme.
Q2 : WHO CAN BECOME A MEMBER OF A CHIT ?
A : Any one who has a regular source of income, can become member of a chit.
Q3 : CAN ONE BECOME A SUBSCRIBER TO A CHIT JOINTLY WITH SOMEONE IN THE FAMILY?
A : Yes, one can have a chit in joint name with any family member or a friend with full understanding. The prize amount in such case is given in the manner in the ratio of subscription to the subscribers individually or in any one name as may be given in writing to the Company.
Q4 : WHAT IF SUBSCRIPTION IS DELAYED BEYOND THE AUCTION DATE ?
A : Non-payment by the auction date will result in late-fees. Repeated delays in subscriptions or other irregularities like dishonored Cheques may adversely affect your creditability with the company and even forfeiture of your dividend or cancellation of your chit, as per the terms of our agreement.
Q5 : WHAT IF SUBSCRIBER WANTS TO CANCEL THE CHIT ?
A : Subscriber must know that only non-prized chits can be canceled. Prized chits can be pre-matured only on the condition that all pending and future installments in the chit are paid in advance. An non-prized subscriber can withdraw its subscription by a written request to the Company. The Company will, as per the bye-laws and chit-agreement, make the payment after the deductions, on actual subscribed amount.
Q6 : WHAT IF ONE HAS ANY OTHER QUERIES ?
A : We invite inquiries and comments from any other person or our SUBSCRIBERS. If you have any questions or suggestions, please feel free to contact us through mail or phone. Our representative will get back to you and resolve all your queries with twelve hours.
Q7 : I HEAR THAT THE SECURITY NORMS OF SRESHTA CHIT FUNDS PRIVATE LIMITED ARE RIGID AND CUMBERSOME. IS IT TRUE?
This is really a false notion, born out of lack of first hand information regarding the range of securities accepted by the company and the actual case with which this can be offered. The company accepts securities belonging, broadly, to four categories:
(1) Financial Document (2) Personal surety
(3) Property security and (4) Gold Security
Q8 : HOW COULD A SUBSCRIBER PAY THE MONTHLY DUES ?
A : Generally, we take Post Dated Cheques from the subscriber for the entire duration of the chit. It is the most convenient method for both the Subscriber and the Company. In such cases, the Subscriber is informed about the amount vide SMS or as desired by the Subscriber. In the other cases, we send our Officers to collect the amount at one's place.
Q9 : HOW COULD A SUBSCRIBER PARTICIPATE IN A CHIT AUCTION ?
A : Subscribers can participate in chit auction by coming to the COMPANY'S OFFICE as per the Chit Agreement which gives the Date, Time and Venue of auction of the Subscriber's chit or the subscriber can authorize any one by a written Authority to participate in auction in its place. The bidder who bids the maximum is announced as the prized bidder in that auction. If there are more than one bidder offering the maximum bid or else all the bidders are offering a similar bid, then the prized bidder is determined by a draw of lots. The subscriber is able to participate if one is a regular paymaster and the payments up-to-date have been received.
Q10 : WHAT IS TO BE DONE AT CHANGE OF ADDRESS ?
A : Any change of address should immediately be conveyed to us. To avoid any communication error, it is essential to send your changed address in writing, giving your group and ticket number.
