Chit fund frauds are rampant, file police complaint for charting and criminal breach of trust.

issue legal notice to chit fund to recover your money with interest 

2) if they fails to do so sue the chit company to recover your money with interest 

Hello,

What was the documentation that took place with the company? 

You can send a legal notice to them and thereafter file a suit for recovery 

Share a copy of the agreement for a more concrete advise 

Regardx  

Issue a legal notice through a  advocate and file recovery on money suit along with interest. 

send him a legal notice and then go for filing suit for recovery,

you can make a police complaint by MANAGING police officials,

Dear Sir,

You can get issue a strong legal notice and then followed by civil case. They always afraid of litigations due to image in the market.

See as per your agreement with them you can send then a recovery notice if they fail on notice then you have to file a suit to recover the amount along the interest. 

Whoever have organized this chit fund kindly check with him or you can make complaint against them for not paying on time the chit fund amount. 

you need to file the suit for recovery in that case before civil court. if you have cheques the if the same bounces you can also initiate action under negotiable Instruments Act.

You have to initiate legal steps to recover the same 

First you issue a legal demand notice demanding the payment within 7 days from the date of receipt of this registered notice.

After that you can file a money recovery suit or even a summary proceedings against the chit fund company.

Consult an advocate and proceed as per the advise received

Dear sir

First you should give legal notice to the company.  Of that doesn't work then go for police complaint against the chit fund company with all the documents that are required by the police to prove your claims.