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Soudambika Finance Pvt. Ltd. Coimbatore and Etc. Etc. Vs. Union of Ind ...

Court : Chennai

Subject : Civil

Acts : Chit Funds Act, 1982 - Sections 4(3), 5, 6(1, 2 and 3), 7(2), 8, 12, 13, 14, 15, 16(2 and 3), 17(2), 18(4 and 5), 19, 20(1), 21, 22(2), 24, 28, 29, 30, 31, 39(2), 48(1), 50, 64, 75, 76, 77 and 79; Constitution of India - Articles 14, 19(1), 245 and 246; Chit Funds (Pondicherry) Rules, 1986; Pondicherry Chit Funds Act, 1966; Chitties Act, 1964; Cochin Kuris Regulations, 1932; Indian Penal Code (IPC), 1860; Reserve Bank of India Act, 1934 - Sections 45-N and 451; Tamil Nadu Chit Fund Rules, 1984 - Rules 4A, 13, 18(4 and 5), 28, 31 and 63; Companies Act, 1956 - Sections 39(2) and 48; Indian Registration Act, 1908

Reported in : AIR1993Mad190; [1995]82CompCas302(Mad)

considered and dealt with in common.2. The above writ petitions involve challenge to the constitutional validity of the Chit Funds Act, 1982 (Central Act 40 of 1982), hereinafter referred to as 'the Act' and the Tamil Nadu Chit Funds Rules, … for under Rule 63 is stated to be unreasonable and arbitrary. While contending that column. No. X Violates Section 28 and 29, it is stated that Form Nos. 9 and 10 are said to be unworkable, too. The

D.Rajalingam Vs. the Government of Tamil Nadu

Court : Chennai

Subject : Constitution

Acts : Chit Funds Act, 1982 - Section 70; Constitution of India - Articles 226

the order of the Arbitrator, the second respondent filed appeals to the Government under Section 70 of the Chit Funds Act, 1982 along with their applications for condonation of delay. The appeals and the applications were rejected by the Government … appeal filed by the petitioner confirming the order of the second respondent made in ARC No. 1971/1991 dated 28.10.1998. Writ Petition in W.P.No.34694 of 2002 filed under Article 226 of the Constitution of India praying to issue

Madurai Ramanathapuram Mavatta Seetu Companigal Sangam and Others Vs. ...

Court : Chennai

Subject : Company

Acts : Companies Act, 1956 - Sections 210; Chit Fund Act, 1982 - Sections 6(3), 24 and 89(2); Tamil Nadu Chit Fund Rules, 1984 - Rules 16, 28, 28(1) and (2), 31, 31(1) and (2)

Reported in : [1994]80CompCas686(Mad)

K.A. Swami, C.J.1. In these writ petitions and also the writ appeals, the validity of several provisions of Chit Funds Act, 1982 (hereinafter referred to as 'the Act'), is challenged. In the meanwhile, the Supreme Court has considered the validity … counsel appearing on behalf of the petitioners/appellants also contended that rules 16, 28(1), 28(2), 31(1) and 31(2) of the Tamil Nadu Chit Funds Rules, 1984 … the pronouncement made by the Supreme Court. However, an argument is advanced before us that the validity of section 6(3) of the Act has not been specifically considered and, therefore, the same be considered in these cases.

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

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

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 … to have been submitted to the Joint Registrar of Chits, Mysore Division, Mysore for certification as required under Section 71(a) of the Chit Funds Act, 1982. A certificate dated 10.1.2000 was issued by the Joint Registrar of

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 … prior approval of the Registrar. The Chit Fund Act also provides for appointment of a Registrar and Foreman. Section 28 also provides a procedure for removal of defaulting subscribers. Under Section 31 it is laid down that every

M.Arumugam Vs. State of Tamil Nadu

Court : Chennai

Subject : Land Acquisition

requisite Presidential assent, became void and stood pro tanto repealed on account of the Central Legislation Chit Fund Act, 1982. In the circumstances, the Kerala Finance Act 7 of 2002 introducing Section 4(1)(a) in Kerala Chitties Act, 1975, … the Act govern the duties and privileges, rights and liabilities, property and funds, the audit, inspection and surcharge, the dissolution and amalgamation of co-operative societies … societies. Thus, the capital of the society is the sum total of the shares held by the members. Section 28 touches on the "restriction on or of share or interest, Section 29 on withdrawal of shares or interest,

M/S. Shriram Chits and Investment (P.) Ltd. Vs. Union of India and Oth ...

Court : Supreme Court of India

Subject : Commercial

Acts : Chit Funds Act, 1982 - Sections 1(3), 2, 3, 4, 6(3), 9, 12, 13, 16, 17, 20, 21, 25, 48 and 81; Constitution of India - Article 19(1); Companies Act, 1956 - Sections 58A; Prize Chits and Money Circulation Schemes (Banning) Act, 1978; Pondicherry Chit Funds Act, 1966; All-India Chit Fund Act; Reserve Bank of India Act, 1934 - Sections 45I; Andhra Pradesh Chit Funds Act, 1971; Tamil Nadu Chit Funds Act, 1961; Kerala Chitties Act, 1975; Hyderabad Money Lenders Act - Sections 9(2); Banking Regulation Act, 1949; Companies (Acceptance of Deposits) Rules, 1975; Tamil Nadu Chit Funds Rules, 1984 - Rule 62

Reported in : AIR1993SC2063; [1994]79CompCas298(SC); (1994)2CompLJ430(SC); JT1993(4)SC399; 1993(3)SCALE125; 1993Supp(4)SCC226; [1993]Supp1SCR54

Writ Petition Nos.19321/86, 17110/84, etc.2. The above appeals and writ petitions involve challenge to constitutional validity of the Chit Funds Act, 1982 (Central Act No.40 of 1982) (hereinafter called as 'the Act' or 'the impugned Act').3. The various appellants/petitioners are … of the Madras High Court in Raghavan v. Armugham: (1934) 38 M.L..I. 283. That was also a case of chit fund transaction and the question … Limited Companies incorporated under the Companies Act, 1956 or proprietary or partnership concerns or individual organisers. According to Section 1(3) of the Act is will come into force on such date as the Central Government may by

The Mayavaram Financial Chit Corporation Ltd. Vs. R. Narayanan and Two ...

Court : Chennai

Subject : Civil

Acts : Chit Funds Act, 1982 - Sections 64 and 85; Code of Civil Procedure (CPC) , 1908 - Sections 9; General Clauses Act, 1897 - Sections 6; Pondicherry Chits Funds Act, 1966

Reported in : 1996(2)CTC170

not maintainable?2. Whether the Court has no jurisdiction to try this suit in view of Section 64 of Chit Funds Act, 1982 and only an arbitration would lie before the Registrar of Arbitration?3. Whether the defendants made number of payments … of 1982) came into force as per the notification published in the Extra Ordinary Gazette of India dated 28.10.86, on the first day of November, 1986. As per Section 85 of the Chit Funds Act, 1982, nothing

Dept. of Non-banking Companies, Reserve Bank of India and State of Mah ...

Court : Mumbai

Subject : Banking

Acts : Reserve Bank of India Act, 1934 - Sections 45I, 45J, 45K, 45K(4), 58B, 58B(5) and 58C; Code of Criminal Procedure (CrPC) , 1973 - Sections 313

Reported in : [1991]70CompCas231(Bom)

Directions.3. Accused No. 1 is a company doing its business under the name and style 'Arihant Finance and Chit Fund Pvt. Ltd.' having its office in Bombay and accused Nos. 2 to 12 are the directors of … Accused No. 1 is a company doing its business under the name and style 'Arihant Finance and Chit Fund Pvt. Ltd.' having its office in Bombay and accused Nos. 2 to 12 are the directors of accused … to 12 between November 1, 1977, and January 28, 1978, in contravention of the prohibitory order dated … punishable under Sections 58B(5)(a) and 58C of the Reserve Bank of India Act, 1934, for collecting Rs. 43,000 by way of deposits by the accused … 298/S of 1979, the accused were charged for the offence punishable under Sections 58B(5)(a) and 58C of the Reserve Bank of India Act, 1934, for