In any critical situation the customer decided to cancel the chit. So our company procedure is deducting our company commission 5% from chit value. If the chit value is Rs.1, 00,000 means our commission will be Rs.5000.If the customer paid RS.20000 deducting our commission Rs.5000 balance RS.15000 will be given to customer.
Within due date our customer should pay the amount, if not dividend will not be given for next month.
When customer asking chit release as per chit act rule surety should be submitted after checking the document we will release the chit. So customer must submit surety documents for chit release without fail.