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S. Venkatachalam Vs. Secretary to Government of Tamil Nadu and Others

Court : Chennai

Subject : Company

Acts : Limitation Act, 1963 - Sections 12 and 12(2); Chit Funds Act, 1982; Chit Funds Rules, 1984

Reported in : [1999]95CompCas589(Mad)

against the award of the Deputy Registrar of Chits, an appeal is provided under section 70 of the Chit Funds Act, 1982, before the State Government. The petitioner presented the appeal on August 31, 1995. According to the petitioner, the … contends that the order passed by the first respondent is valid and no interference is called for. 11. Chapter XII-Disputes and arbitration provides the machinery for adjudication of disputes between the subscriber of a chit and a … a statutory appeal to be preferred under section 70 of the Act. 10. On the other hand, the learned Government advocate contends that there is

Angel's Consultants Pvt. Ltd. and Anr. Vs. Anand Mehta and Co. and Anr ...

Court : Kolkata

Subject : BankingContract

Acts : Bengal Money-Lenders Act, 1940 - Sections 2(13), 8, 13 and 13(3); ;Reserve Bank of India Act, 1934 - Section 45

Reported in : 2005(1)CHN357

Court at pages 251, 252 of the judgment that it will bo noticed from Section 3 of the Chit Funds Act, 1982 that the said section which overrides other laws, memorandum or articles of association or bye-laws or any agreement … Bank of India.5. Mr. Tibrewal, the learned senior Counsel appearing for the plaintiffs has drawn my attention to Chapter IIIB and particularly Section 45-I(C)(i) of R.B.I. Act and tries to impress upon me that the function of … be superseded by the R.B.I. Act. It is further argued that Section 108 of the Companies Act talks about transfer of share which is movable

Shriram Chits and Investments (P)ltd., T. Nagar Vs. M. Krishnan and Ot ...

Court : Chennai

Subject : CommercialLimitation

Acts : Chit Funds Act, 1982 -- Sections 65; Limitation Act, 1963 -- Sections 5, 12, 14 and 64; Chits Funds Act, 1982 -- Sections 65, 66 and 67; Tamil Nadu Chit Funds Act, 1961

Reported in : AIR2000Mad78; 1999(1)CTC238

to refer to the provisions of the Chit Funds Act, 1982 with respect to disputes and the arbitration. Chapter XII relates to disputes and arbitration. In terms of Section 64 notwithstanding anything contained in any other law … instituted proceedings under Section 64 which was presented on 22.7.1991.12. It is to be pointed out that the Chit Funds Act; 1982 (Central Act 40 of 1982) by which The Tamil Nadu Chit Funds Act, 1961 which was in force … of sixty months commenced in February 1984, and it terminated only on 10.3.1990. What was sought to be recovered is not only the defaulted instalment

Dharmodayam Company Vs. Union of India (Uoi)

Court : Kerala

Subject : Civil

Acts : Kerala Chitties Act, 1975 - Sections 2(4), 3, 3(1), 3(2), 4, 4(1), 5, 6, 6(3), 11, 12, 13, 14, 15, 17, 18, 19, 21, 22, 23, 24, 25, 26, 29, 34, 35, 39, 40, 42, 43, 55, 56, 59, 60, 67, 72, 89 and 220; Kerala Finance Act, 2002; Chit Funds Act, 1982 - Sections 1(3), 2, 4(1), 7(3), 8, 9(1), 20 and 90; Constitution of India - Articles 14, 19(1), 226, 245 to 255; Companies Act; Finance Act, 2002 - Sections 3(5) and 4; Kerala Chittis (Amendment) Act, 2002

Reported in : AIR2005Ker253; [2005]126CompCas586(Ker); 2005(3)KLT332

a writ of mandamus directing the Union of India to exercise its powers under Section 1(3) of the Chit Funds Act, 1982 (Central Act) to notify that Act within the State of Kerala. Learned Single Judge rejected the prayers of … Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different States. Chapter II of the Act deals with registration of chits, commencement and conduct of chit business. Section 4(1) of … Section 5 says that if the chitty amount is less than Rs. 100/-, the provisions of the Act will not be applicable, but a license

K.Periyasamy Vs. Shriram Chits Tamil Nadu Pvt. Ltd.

Court : Chennai

Subject : Land Acquisition

has repaid the chit amount for about 14 installments. Thereafter, the petitioner has committed default. Hence, under the Chit Funds Act, 1982, the matter has been referred to the Deputy Registrar of Chits. Notice has been issued to the petitioner. … notification in the Official Gazette by the State Government in that behalf. 10.Section 3 of the Chit Funds Act, 1982 reads as follows: "3.Act to … settle the dispute himself, or refer it for disposal to a person appointed by him (hereafter in this chapter referred to as the nominee) (2) Where any dispute is referred under sub-section (1) for settlement to the

The D.C.i.T. Vs. Mangal Dayak Chit Fund (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (2005)92ITD258(Hyd.)

of the case are as follows.3.2 All these assessees are Chit Fund Companies. They are governed by the Chit Funds Act 1982 and the A.P. Chit Funds Act 1971 and the Rules formed there under. The assessees have filed their … notice of demand specifically refers to tax, interest, penalty, fine or any other sum payable under the Act. Chapter XXI. of the Act deals with penalties. Various sections provide for imposition of penalty in addition to the … is applicable and that in those cases where gross commission exceeds Rs. 10 lakhs and the assesee has not obtained a Tax Audit Report as

Shriram Chits (Bangalore) Ltd. Vs. Sri Panchakshari and anr.

Court : Karnataka

Subject : CompanyCivil

Acts : Chit Funds Act, 1982 - Sections 68, 69, 70, 71 and 71(1); Co-operative Credit Societies Act - Sections 42 and 43; Indian Arbitration Act, 1899; Code of Civil Procedure (CPC) - Sections 31, 34, 38, 39, 42 and 151 - Order 21, Rules 6, 10 and 50

Reported in : ILR2006KAR498; 2006(6)KarLJ652

the chit agreement. In respect of the recovery of the dues, the petitioner initiated proceedings as provided under Chapter XII of the Chit Funds Act, 1982, before the Development Officer, Bantwal, who is the nominee for adjudication … as follows:The petitioner M/s Shriram Chits (Bangalore) Ltd., Hampankatta Branch, Mangalore is a Chit Company registered under the Chit Funds Act, 1982. The subscriber viz., the principal debtor Sri Shyam Bhandary of Uppinangady was a member of the Chit Fund … under Section 71(a) of the Chit Funds Act, 1982. A certificate dated 10.1.2000 was issued by the Joint Registrar of Chits, Mysore Division, Mysore. The

Branch Manager, Margadarsi Chit Fund Limited and anr. Vs. District Con ...

Court : Andhra Pradesh

Subject : Consumer

Acts : Consumer Protection Act, 1986 - Sections 2(1) and 3(1)

Reported in : AIR2004AP343; 2004(2)ALD645; 2004(2)ALT822; [2005]123CompCas194(AP)

therefore the Consumer Protection Act would not be applicable. The chit funds are managed and organized under the Chit Funds Act, 1982 (49 of 1982). Before appreciating the arguments we have to refer to certain provisions in the Chit Fund … is bound to pay the subscription regularly. The chit fund company can be wound up in accordance with Chapter X of the Act. Powers of the Registrar have been mentioned in Section 53. Disputes can be settled … two chits each for Rs. 5,00,000/- and the monthly subscription was Rs. 10,000/- for each chit. The period of chit was, 50 months. The chits

M/S. Thiru Muruga Finance Rep. by Its Partner Sri V. Thirunavukkarasu, ...

Court : Chennai

Subject : Commercial

Acts : Tamil Nadu Protection of Interests of Depositors (In Financial Establishments) Act, 1997 - Sections 15; Constitution of India -- Articles 14, 19 (1)(G), 21, 246 and 254(2) -- Schedule VII; Reserve Bank of India Act, 1934; Reserve Bank of India Act (amended), 1997; Tamil Nadu Act, 1997 -- Sections 45; Banking Regulation Act, 1949 -- Sections 5; Presidency Towns Insolvency Act, 1909; Provincial Insolvency Act, 1920; Companies Act, 1958 -- Sections 58A; State Bank of India (Subsidary Banks) Act, 1959; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 -- Sections 3; Industrial Development Bank of India Act, 1964 -- Sections 6A; Chit Funds Act, 1982 -- Sections 2; Hire-Purchase Act, 1972 -- Sections 2; Indain Partnership Act, 1932; Code of Cri

Reported in : 2000(2)CTC609

a chit.Explanation I: 'Chit' has the meaning assigned to it in clause (b) of section 2 of the Chit Funds Act, 1982 (40 of 1982).Explanation II: Any credit given by a seller to a buyer on the sale of any … attached under Section 3.''5. Default in Repayment of deposits and interests honouring the commitment. Notwithstanding anything contained in Chapter II, where any Financial Establishment defaults the return of the deposit or defaults the payment of interest on … appointed in the cadre of District and Sessions Judge and Advocate with 10 years standing in the bar respectively. There is no violation by presenting

Forum For Peoples Collective Efforts (fpce) Vs. The State Of West Beng ...

Court : Supreme Court of India

Subject : Land Acquisition

Constitution Bench dealt with the question as to whether the Kerala Chitties Act, 1975 became repugnant to the Chit Funds Act, 1982 enacted by Parliament on the date when the Parliamentary legislation received the assent of the President or subsequently, … With a view to introduce a Union law throughout the country, Parliament enacted the Amendment Act by inserting Chapter IVA in the Motor Vehicles Act, 1939. This object, the Court ruled, would be frustrated if the argument … non-registration contravenes the provisions of section 9 or section non-registration and contravention 10, he shall be liable to a penalty of ten thousand and contravention