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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, … Section 76 is also said to be harsh and draconian.(C) The learned counsel next directed his challenge against Section 30 and contended that the stipulations contained therein would result in immobilisation of funds. The provision for arbitration for

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 … for the conduct of the chit and includes any other person discharging the functions of the foreman under Section 30. Section 3 of the Act mandates that no person shall start or conduct any chit unless he has

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 … dealt with. Sections 26 to 29 deal with the signing of minutes, providing security etc. by prized subscribers. Section 30 to 33 deal with transfer of rights by Foreman etc. Section 34 deals with meetings of the general

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 … file references in cases where the tax effect was less than Rs. 30,000 per year was cited and reference withdrawn by the Department and that

Recovery Manager vs Biju.B.S.Nair

Court : Kerala

Subject : Land Acquisition

defendants challengingthe maintainability of the suit on the ground that it is hit by Section 64 of the Chit Funds Act, 1982, which mandates that any dispute relating to the management of a chit business must be referred to the … the State of Kerala before the commencement of the Chit Funds Act, ie., to any chit started before 30.04.2012. It has thus been clarified by this Court in the said judgment that the forum prescribed under the

All Kerala Chitty Foremen'S Association vs the Union of India,

Court : Kerala

Respondents 7 to 13 and other Co-operative Societies satisfy the definition of 'chit' as understood in the Chit Fund Act, 1982 (Act 40 of 1982);(ii) issue a writ of mandamus or any other appropriatewrit or order restraining … 7 to 13 and other Co-operative Societies satisfy the definition of 'chit' as understood in the Chit Fund Act, 1982 (Act 40 of 1982);(ii) issue a writ of mandamus or any other appropriatewrit or order restraining Respondents 7 … order or direction directing Respondents 1 to 4 to initiate action under Section 76 of the Act against Respondents 7 to 13 and other Co-operative … 12 OLLUR SERVICE CO-OPERATIVE BANK LTD. NO.279 CHEERACHI, OLLUR P.O, THRISSUR 680 306, REPRESENTED BY ITS SECRETARY. 13 OLLUR TOWN CO-OPERATIVE BANK OPP.GOVERNMENT HIGH SCHOOL,

National Investigation Agency New Delhi Vs. Owais Amin @ Cherry

Court : Supreme Court of India

Subject : Right to Information

sub-section (2) of section 1, words, 1890. “except the State of Jammu and Kashmir” shall be omitted.7. The Chit Funds Act, 1982. In sub-section (2) of section 1, words, “except the State of Jammu and Kashmir” shall be omitted.8. The … Judge) Jammu, has been confirmed in part, while remitting the issue pertaining to the charges framed under Sections 306 and 411 of the Jammu and Kashmir State Ranbir Penal Code SVT., 1989 (hereinafter referred to as “RPC,

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 … already been conveyed to the Reserve Bank by a letter dated June 30, 1975 addressed by the Chariman of the Group to Shri S.S. Shiralkar, … 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

C. Dhanam Vs. A.M. Srinivasan and ors.

Court : Chennai

Subject : Limitation

Acts : Limitation Act - Schedule - Articles 37 and 113; Tamil Nadu Chit Funds Act, 1961 - Sections 6, 24 25, 25(1) and 25(2); Chit Funds Act, 1982 - Sections 65; Constitution of India

Reported in : AIR2006Mad210; 2006(2)CTC444; [2007(1)JCR463(Mad)]; (2006)2MLJ275

the provisions of the Tamil Nadu Chit Funds Act,1961, since the chit transaction took place in the year 1982, especially before coming into force of the Central Act.14. Before dealing with the view expressed by the Division … Ltd. held that Article 37 of the Limitation Act and Sections 24 and 25 of the Tamil Nadu Chit Funds Act,1961, would apply and, as such, the date of default is the reckoning date. 12. The other Division Bench … Funds Pvt. Ltd. held that Article 37 of the Limitation Act and Sections 24 and 25 of the Tamil Nadu Chit Funds Act,1961, would apply … The period of 20 months for the first chit got terminated on 30.09.1983 and the second chit on 19.12.1983. (ii) Chinnakaruppan died, possessing of property

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 … of 1976 being the State Act stood enacted on 13.12.1976; it received the assent of the President on 30.12.1976; it was published in the Gazette on 31.12.1976 and brought into force w.e.f. 1.01.1977 whereas the Civil Procedure