Regarding chit lady fraud
In Our village a lady used to operate local chit around 5lakhs and she is Govt employee working as Attender in college in our village. My mom had entered in to that chit and she paid on chit one from her end and other 6 members from other villages and that six members money My mom used to pay to chit lady in our village but she is not registered chit fund, just group of people And mom used to pay on monthly basis amount of her and other villagers and it comes to 1.75 lakhs and we gave amount of 50,000 to that lady on promissory note and after chit had over she has not paid 1.75lakhs and she asked my mom 1 yr. so that she will pay interest and principal amount and mom had taken this on Bond agreement of her sign and her daughter and son too signed it on bond paper of govt. and (her husband is working in Dubai) and her kids are majors and when we had asked for money after 1yr they are not paying and her daughter played drama of suicide that we are forcing to pay the money.
How we have to recover the amount of 2.20 lakhs from that lady.
1) What can we do in this situation to recover our money?
2) Is there any chance of recovering our money?
3) Is there any option for going for legal for filling case against them?
4) What are the sections under we can book case against them for recovery of money?