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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 … Salem, to give a personal hearing and dispose of the same on the merits in accordance with law. 2. This court ordered notice of motion on March 7, 1996, and the Government advocate was directed to produce

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

view, cannot be read in isolation. The same has to be read along with Section 1(3) of the Chit Funds Act, 1982. Section 1(3) of the Act states that the Chit Funds Act, 1982 shall come into force on such date … accordance with the provisions of the Act. Certain categories are exempted from the above said requirement. As per Sub-section (2) of Section 3, certain disqualifications are made in regard to the Foreman in which case no previous sanction

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

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 … matter before us.3.1 The sole issue arising for adjudication in these appeals is whether the penalty levied under Section 271 B by the Assessing Officer, in the case of a Chit Fund Company; on the ground that

The Andhra Pradesh Federation of Chit Funds, a Public Society Rep. by ...

Court : Andhra Pradesh

Subject : Service TaxBanking

Acts : Constitution of India - Articles 14, 19(1), 226 and 265; Finance Act, 1994 - Sections 6, 65, 65(12) and 65(105); Andhra Pradesh Chit Funds Act, 1971; Finance (Amendment) Act, 2007 - Sections 65; Chit Funds (Amendment) Act, 1982 - Sections 2; Reserve Bank of India Act, 1934 - Sections 41(I) and 45I; Andhra Pradesh Chit Funds Rules

Reported in : (2008)220CTR(AP)28; (2008)17VST128(AP)

ambit and therefore it was contended that even culling out from the definition of the chit under the Chit Funds Act, 1982, there being an element of finance involved, it attracts cash management and asset management. Further, it has been … the second respondent as being violative of Article 14, 19(1)(g) and 265 of the Constitution of India and Section 65(12) read with Section 65(105)(zm) of the Finance Act, 1994 and to set aside the same. The case … and assailing the correctness of circular No. 96/7/2007-ST (Circular No. 034-04) dated 23.8.2007 and proceedings No. HAST 141/2007 dated 18.12.2007 issued by the second respondent

Margadarsi Chit Funt Pvt. Ltd., Hyderabad Vs. Government of Andhra Pra ...

Court : Andhra Pradesh

Subject : Commercial

Acts : Andhra Pradesh Chit Funds Act, 1971 - Sections 2(2 and 10), 3, 4, 5, 6, 8, 10, 12, 13(1), 14(1, 2 and 4), 21(1), 22(1), 27 to 29, 30, 51, 63, 66 and 90; Andhra Pradesh Chit Fund Rules, 1971 - Rules 3(3, 4 and 16) and 20; The Industries (Development and Regulation) Act, 1951; Taxtile Committee Act, 1963 - Sections 2; Chit Fund Act, 1982; Contracts of Employment Act, 1963; Kerala Agriculturists' Debt Relief Act, 1970 - Sections 4(1, 2 and 5)

Reported in : 1999(5)ALD718; 1999(5)ALT548

the State of Andhra Pradesh. The reports and recommendations of those committees were the basis for enactment of Chit Funds Act, 1982 (Central Act 40 of 1982). The Central Act is a comprehensive piece of Legislation, and the dominant purpose … the said provision does not empower the foreman to levy and collectany excess quantum of amount provided in Section 13(1)(b) of the said Act. Subsection (4) of Section 14 clearly puts an embargo on the foreman not … be in the nature of clarification issued at the instance of the 2nd respondent-Director of Chits and Inspector General of Registration and Stamps. Since the

State of Kerala and ors. Vs. Ms. Mar Appraem Kuri Co.Ltd. and ors.

Court : Supreme Court of India

Subject : Constitution

Acts : Constitution of India - Article 254(1); Kerala Chitties Act 23 of 1975 - Section 15; Central Chit Funds Act 40 of 1982 - Article 254(1), Section 1(3), 85(a), 90(2); The U.P. Civil Laws (Reforms and Amendment) Act 57 of 1976 ; Code of Civil Procedure (Amendment) Act 104 of 1976 ; Central Act - Section 20; General Clauses Act, 1897 - Section 6 ; Orissa Mining Areas Development Fund Act, 1952

challenged the vires of Section 4(1a) of the 1975 Act as repugnant under Article 254(1) to the Central Chit Funds Act, 1982. Questions to be answered7. Whether making of the law or its commencement brings about repugnancy or inconsistency as … It shall come into force on such date as the government may, by notification in the Gazette, appoint. Section 2 - DefinitionsIn this Act, unless the context otherwise requires,(4) "discount" means the amount of money or quantity of

Bilahari Investments (P) Ltd. Vs. the Commissioner of Income Tax

Court : Chennai

Subject : Direct Taxation

Acts : Chit Funds Act, 1982 - Sections 2 and 3; Income tax Act, 1961 - Sections 5, 6(6), 144 and 145; Companies Act

Reported in : (2007)207CTR(Mad)512; [2007]288ITR39(Mad); (2006)4MLJ1644

of the questions raised in the appeals, a reference to Sections 2(d), 2(g), 2(h) and 2(m) of the Chit Funds Act, 1982 is inevitable, which read as follows:2. Definition.- In this Act, unless the context otherwise require,-(d) 'chit amount' means … common questions of law:a) Whether the Income tax Tribunal is right in law particularly in the light of Sections 5 and 145 of the Income tax Act, 1961, in rejecting the method of accounting adopted by the

Sree Visalam Chit Funds Limited Vs. Mrs. S. Suguna and Others

Court : Karnataka

Subject : Commercial

Acts : Code of Civil Procedure (CPC), 1908 - Order 2, Rule 2; Chit Funds Act, 1982 - Sections 64(3) and 85

Reported in : AIR2001Kant251; ILR2001KAR1524; 2001(4)KarLJ226

suit and the suit filed is also not maintainable as it is barred under Section 64(3) of the Chit Funds Act, 1982 (for short 'the Act').2. In this appeal, the point that arises for consideration is.-'Whether the Trial Court is

Mayavaram Financial Chit Corporation Ltd. Vs. Deputy Registrar of Chit ...

Court : Chennai

Subject : Commercial

Acts : Chit Funds Act, 1982 - Sections 2, 6, 16(3), 19 and 19(4)

Reported in : [2000]100CompCas366(Mad)

are residing or carry on business, the agreement already entered into as contemplated under Section 6 of the Chit Funds Act, 1982, was altered with the consent in writing of the foreman and the subscribers to the chit with respect … office, sub-office or anyplace of business where the chit business may be conducted by such person. Under Section 2(e), 'chit business' has been defined as the business of conducting a chit. So the place at which the