Shriram Chits (India) Private Limited Earlier Known As Shriram Chits (K) Pvt. Ltd. vs Raghachand Associates

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2024 Supreme(SC) 451

PAMIDIGHANTAM SRI NARASIMHA, ARAVIND KUMAR
Shriram Chits (India) Private Limited Earlier Known As Shriram Chits (K) Pvt. Ltd. – Appellant
Versus
Raghachand Associates – Respondent

Advocates appeared:
For the Petitioner(s): Mr. Shailesh Madiyal, Sr. Adv. Mr. Vaibhav Sabharwal, Adv. Ms. Divija Mahajan, Adv. Ms. Rakhi Madiyal, Adv. Ms. Mansi Sharma, Adv. Mr. Mrigank Prabhakar, AOR Ms. Amisha Devi, Adv.
For the Respondent(s): Ms. Anindita Mitra, AOR

1. Leave granted.

2. The appellant (‘OP’/‘service provider’, used interchangeably) has challenged the order dated 10.03.2021 of the National Consumer Disputes Redressal Commission, New Delhi (NCDRC) in these appeals. The respondent (complainant) had successfully redressed its consumer grievance, originally, before the Principal Consumer Disputes Redressal for Bangalore Urban District, at Bangalore (‘District Forum’). The service provider was unsuccessful in upsetting the order of the District Forum before the State Consumer Disputes Redressal Commission, Bangalore (‘State Forum’) as well as the NCDRC. That is how this matter has come before us.

3. The service provider is a registered Chit Fund company engaged in Chit business. Admittedly, the complainant had subscribed to certain chits in the said business. The subscription was made in the chit group 53005/Ticket No.9 for a chit value of Rs.1,00,000/- payable at the rate of Rs.2500/- per month for a period of 40 months.

4. It is the case of the complainant that the OP had illegally stopped the chit business in the year 1996. The complainant requested the OP to repay the chit amount deposited until stoppage of the business. The OP refu

Click Here to Read the rest of this document

Judicial Analysis

Martin A. J. VS Josts Engineering Co. Ltd. - Consumer (2024): Cited positively with quote from para 22 of Shriram Chits (K) Pvt. Ltd. vs Raghachand Associates; language "The Hon’ble Supreme Court further held in paragraph 22" indicates approval and reliance.

M. Ashok Kumar vs K. Rajasekhar - 2025 Supreme(Online)(NCDRC) 2654: Cited as further authority on burden of proof in consumer cases; "Further, in Shriram Chits (India) Private Limited v. Raghachand Associates" shows affirmative use.

Sreenilaya Chit Fund Pvt. Ltd. vs State of Telangana - 2025 0 Supreme(Telangana) 1986: Cited alongside recent SCC cases; "Shriram Chits (K) Ltd. Rep. by its Manager Vs. ... Raghachand Associates" listed as relevant precedent without negative treatment.

M/s Sunlight Dev-Con Pvt. Ltd. vs M/s Lodha Healthy Construction and Developers Pvt. Ltd. - 2026 Supreme(Online)(NCDRC) 107: Cited in discussion of consumer protection laws; "(ii) Shriram chits (India) Private Limited Vs. Raghachand Associates" indicates supportive reference.

Vinit Bahri VS MGF Developers Ltd. - 2026 2 Supreme 566: Quoted directly from (2024) 9 SCC 509; "Chits (India) Private Limited Earlier Known as Shriram Chits (K) Pvt. ... Ltd vs. Raghachand Associates" with para 19 shows reliance.

Sant Rohidas Leather Industries And Charmakar Development Corporation Ltd. VS Vijaya Bank - 2026 0 Supreme(SC) 285: Analyzed and observed upon definition of "consumer"; "In Shriram Chits (India) Private Limited v. ... Raghachand Associates, (2024) 9 SCC 509, after analysing" demonstrates approval.

SANT ROHIDAS LEATHER INDUSTRIES AND CHARMAKAR DEVELOPMENT CORPORATION LTD. vs VIJAYA BANK - 2026 Supreme(Online)(SC) 1585: Affirmed principle on burden of proof; "Affirmed the principle... In Shriram Chits (India) Private Limited v. ... Raghachand Associates" explicitly states affirmation.

Lilavati Kirtilal Mehta Medical Trust VS Unique Shanti Developers - 2020 5 Supreme 497: States principles on "commercial purpose" (e.g., purchasing flats for hostel not commercial); no direct treatment indicators but appears as standalone affirmative principle.

NATIONAL INSURANCE CO. LTD. VS HARSOLIA MOTORS - 2023 3 Supreme 300: States principles on insurance policy hiring not for commercial purpose absent profit aim; no direct treatment indicators but presented as valid rule.

Foreman, M/s Akshara Chit Fund Private Limited VS Ramreddy Sujatha Reddy - Consumer (2026): No clear treatment indicators; discusses chit fund disputes and Act provisions, mentions Ex.A2 but lacks keywords like followed, cited, or criticized. Categorized cautiously as lacking explicit treatment pattern.

2024 Supreme(SC) 451

PAMIDIGHANTAM SRI NARASIMHA, ARAVIND KUMARShriram Chits (India) Private Limited Earlier Known As Shriram Chits (K) Pvt. Ltd. – AppellantVersusRaghachand Associates – Respondent

Cases Referred (2)

Judicial Analysis

PAMIDIGHANTAM SRI NARASIMHA, ARAVIND KUMAR
Shriram Chits (India) Private Limited Earlier Known As Shriram Chits (K) Pvt. Ltd. – Appellant
Versus
Raghachand Associates – Respondent