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TypeBare Act JurisdictionCentral Government

Chit Funds Act, 1982 Section 12

Prohibition of transacting business other than chit business by a company.—

~1 min read
https://sooperkanoon.com/act/449331

Bare act section · Research

About this section

Chit Funds Act, 1982 Section 12 is part of Chit Funds Act, 1982 - Prohibition of transacting business other than chit business by a company.—. Read the section text below and explore Indian court judgments that cite it.

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Section Text

1) Except with the general or special permission of the State Government, no company carrying on chit business shall conduct any other business.

(2) Where at the commencement of this Act, any company is carrying on any business in addition to chit business, it shall wind up such other business before the expiry of a period of three years from such commencement:

Provided that the State Government may, if it considers it necessary in the public interest or for avoiding any hardship, extend the said period of three years by such further period or periods not Section 13 - exceeding two years in the aggregate

Frequently asked questions

What does Chit Funds Act, 1982 Section 12 provide?

Section Section 12 of the Chit Funds Act, 1982 (Prohibition of transacting business other than chit business by a company.—) is reproduced on this page as part of the Chit Funds Act, 1982. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Chit Funds Act, 1982 Section 12?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Chit Funds Act, 1982 Section 12. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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