One cannot know the things unless he faces the situation.On 15.5.2013 I have sent a cheque for rs.2000 together with a bid authorization letter for Rs.15000/- to participate in May 2013 which was acknowledged by Shriram chits, innispeta, rajahmundry. and I surprised to know that the chit declared with a bid of Rs.10600/- and the cheque is not en-cashed at bank.
I contacted the Shriram chits office, manager and the in-charge of the local h.o. but they have not responded positively.
So, I suggest please inquire thoroughly before joining in a chit. Before joining in chit the agents will beg you and after joining in chit you will beg them by paying money from your pockets.