There is no written confirmation of waiver of one month

2) you were given the chit money of Rs 7 lakhs albeit with some delay

3) it makes no sense in filing complaint with consumer forum

4) if you want to file complaint then you have to file district before consumer forum

5) complaints would take over 2 years to be disposed of

1. I am not sure why you have invested in Chit Fund as most of such fund houses operate without SEBI License and hence are illegal.

2. Get whatever money you can and try to withdraw your investment fast

3.if the company is busted which is very likely there is no guarantee when you will get back or at all.

4. yes,you can file case for refund anyway in consumer forum.

A promise made orally not reduced to writing cannot be proved in a court of law, hence it is legally not enforceable. So a complaint is not made out in the given circumstances.

The chit company rules would be clear in this regard.

If the bid amount settlement was inordinately delayed, you should have followed the procedure that was mentioned in the rules of the company or at least consulted a lawyer and taken legal action.

Instead you went b the oral wording of an employee of the company, who is not an authority nor ha any power to give this privilege to you.

Non-payment of monthly due amount especially after having bid the chit amount and taken settlement would be an offence under cheating and breach of trust, you can be even booked under criminal law provisions.

You ,may consult with an advocate and issue a legal notice to claim interest for the delay in settlement, but cannot claim the waiver of one month due amount as a right.

Dont invite troubles if you want to sail smoothly.

You can talk to the management of the company before issuing the legal notice.