Title : Restriction on Opening of New Place of Business
State : Central
Year : 1982
(1) no person carrying on chit business shall open a new place of business without obtaining the prior approval of the registrar within whose territorial jurisdiction his registered office or, as the case may be, the place or the principal place of .....
View Complete Act List Judgments citing this sectionTitle : Duties of Foreman
State : Central
Year : 1982
(1) the foreman shall, on the prized subscriber furnishing sufficient security for the due payment of future subscriptions, be bound to pay him the prize amount: provided that the prized subscriber shall be entitled to the payment of the prize amount .....
View Complete Act List Judgments citing this sectionTitle : Liability of Foreman to Subscribers
State : Central
Year : 1982
(1) every foreman shall be liable to account to the subscribers for the amounts due to them. (2) where there are more than one foreman in a chit, each one of them jointly and severally and, if the foreman is a firm or other association of individuals, .....
View Complete Act List Judgments citing this sectionTitle : Withdrawal of Foreman
State : Central
Year : 1982
(1) no foreman, or where there are more than one foreman in a chit, none of them shall withdraw from the chit until its termination unless such withdrawal is assented to in writing by all the non- prized and unpaid prized subscribers and a copy of such .....
View Complete Act List Judgments citing this sectionTitle : Rights and Duties of Non-prized Subscribers
State : Central
Year : 1982
every non-prized subscriber shall pay his subscription due in respect of every instalment on the dates and times and at the places mentioned in the chit agreement and shall, on such payment, be entitled to obtain a receipt from the foreman. section 28 - .....
View Complete Act List Judgments citing this sectionTitle : Non-prized Subscribers to Pay Subscriptions and Obtain Receipts
State : Central
Year : 1982
every non-prized subscriber shall pay his subscription due in respect of every instalment on the dates and times and at the places mentioned in the chit agreement and shall, on such payment, be entitled to obtain a receipt from the foreman.
View Complete Act List Judgments citing this sectionTitle : Removal of Defaulting Subscribers
State : Central
Year : 1982
(1) a non-prized subscriber who defaults in payment his subscription in accordance with the terms of the chit agreement shall be liable to have his name removed from the list of subscribers and a written notice of such removal shall be given by the .....
View Complete Act List Judgments citing this sectionTitle : Substitution of Subscribers
State : Central
Year : 1982
(1) a foreman may substitute in the list of subscribers any person (hereinafter in this chapter referred to as the substituted subscriber) in place of the defaulting subscriber whose name has been removed under sub-section (1) of section 28. (2) every .....
View Complete Act List Judgments citing this sectionTitle : Amounts Due to Defaulting Subscribers
State : Central
Year : 1982
(1) a foreman shall, out of the amounts payable by and realized from the substituted subscriber towards the instalment relatable to the period before the date of the substitution (including the arrears due from the defaulting subscriber), deposit, before .....
View Complete Act List Judgments citing this sectionTitle : Prized Subscriber to Furnish Security
State : Central
Year : 1982
every prized subscriber shall, if he has not offered to deduct the amount of all future subscriptions from the prize amount due to him, furnish, and a foreman shall take, sufficient security for the due payment of all future subscriptions and, if the .....
View Complete Act List Judgments citing this section