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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 … with transfer of rights by Foreman etc. Section 34 deals with meetings of the general body of subscribers. Section 35 to 39 deal with termination of chitties. Section 40 to 42 deal with inspection of documents by subscribers

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 … 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 … Anr. v. Reserve Bank of India and Anr. (1984) 56 Comp Cas 352 and P. Suahmaniam and Anr. v. Reserve Bank of India and Ors.

Kathirvelu Vs. Anbazhagan

Court : Chennai

Subject : Civil

Acts : Chit Funds Act, 1982 - Sections 12; Negotiable Instruments Act, 1881 - Sections 118; Evidence Act; Tamil Nadu Money-Lenders Act, 1957 - Sections 3(1) and 9

Reported in : (2008)5MLJ39

note to the appellant as security for prompt payment of future subscriptions. 19. As per Section 12 of Chit Funds Act, 1982, there is prohibition of transacting business other than chit business by a company carrying on chit business without … the suit before the trial court. According to the appellant, the respondent having borrowed a sum of Rs. 35,000/- on 01.03.1991, executed the suit promissory note, Ex.A.1, agreeing to repay the said sum together with interest at

Rajees Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Direct Taxation

Reported in : (1997)63ITD330(Coch.)

submissions, the only point which has arisen for my consideration is whether the loss incurred in subscribing to chit funds and taking bids by losing certain part of the total chit fund is an allowable deduction. There is … the amounts in later periods. The scheme of the chit fund companies is covered by the Chit Fund Act, 1982 which enacted to have a control on the operation of Chit Fund Companies and to protect the interests … (Guj.) and (iv) CIT v. Nataraj Finance Corpn. [1988] 169 ITR 732/[1987] 35 Taxman 280 (AP).Based on these principles of mutuality, the Punjab and Haryana … by the assessee from the said business is entitled to deduction under section 80P(2)(a)(i) of the Act." In the above referred case, the point involved

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 … of R.Wadiwala & Co. v. ACIT (72 TTJ 34) and 72 TTJ 35 for the proposition that no penalty can be levied under Section 271B

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 … arises when the two enactments produce different legal results when applied to the same facts." *** *** *** 35. On a careful consideration, therefore, of the authorities referred to above, the following propositions emerge:1. That in order

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 … BALAKRISHNAN NAIR AGED 60 YEARS S/O.RAMAN PILLAI, REMA VILASAM, KADAMBANADU, CHERIYAKONNI, ARUVIKARA. FAO NO.53/2021 2 4 K.S.SUNILKUMAR AGED 35 YEARS S/O.SUKUMARAN NAIR, JAYA MANDIRAM, CHELLAMCODE, POOVATHOOR, NEDUMANGADU.BY ADVS. A.R.DILEEP, R1 to R3 N.SASIDHARAN UNNITHAN(K/50/2007) THIS FIRST APPEAL

Sanjiv Kumar Vs. Ramwa Chit Funds (P) Ltd.

Court : Delhi

Subject : Civil

Acts : Code of Civil Procedure (CPC) , 1908 - Sections 114, 115 and 141 - Order 27, Rule 4 - Order 37 - Order 47, Rule 1; Madras Chit Funds Act, 1961 - Sections 1(3), 3 and 64(1); Chit Funds Act, 1982 - Sections 1; General Clauses Act, 1987 - Sections 3(58) and 5; Union Territories (Laws) Act,1950; Constitution of India - Article 239

Reported in : AIR2006Delhi274; 130(2006)DLT170

for the petitioner submitted that chit funds were earlier governed by Madras Chit Funds Act, 1961 and thereafter Chit Funds Act, 1982 (hereinafter referred to as the Act, for short) was passed by the Parliament and notified by publication in … Sanjiv Khanna, J.1. The present revision petition under Section 115 of the Code of Civil Procedure, 1908 (hereinafter referred to as the Code, for short) is directed … the petitioner had issued four cheques for Rs. 40,000/-, Rs. 45,000/-, Rs. 35,000/- and Rs. 30,000/- drawn on Bank of Baroda, Shakarpur, Delhi and the

Delhi Chit Fund Association Vs. Union of India and anr.

Court : Delhi

Subject : Service Tax

the chit fund also participating as a subscriber.7. The business of chit funds is strictly regulated by the Chit Funds Act, 1982. It contains detailed provisions relating to registration of chits, commencement and conduct of chit business. Rights and duties … provision of services in relation to conducting a chit business is a taxable service for the purposes of section 65B(44) of the Finance Act, 1994 inserted w. e. f. 1st July, 2012.2. Delhi. The petitioner is an

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, … the provisions of entries 7 and 52 of List I • Entry 35- Works, lands and buildings vested in or in the possession of the … the parties. 59 - Punishment (1) If any promoter contravenes the provisions of 59 - Punishment for non- section 3, he shall be liable to a penalty which may for non-registration registration under extend up to ten