Advanced Search Results

Vara Vara Chits Ltd. Vs. Mrs. Y. Punyavathi

Court : Andhra Pradesh

Subject : Commercial

Acts : Chit Funds Act, 1982 - Sections 40 and 42

Reported in : 2004(4)ALD41; 2003(6)ALT94; [2004]49SCL548(AP)

to be considered. In the context it is appropriate to refer to certain of the provisions in The Chit Funds, Act, 1982 ('the Act' for brevity). Chapter-VIII thereof pertains to the termination of chits. Coming in the realm of the … one of them can continue the chit or make other arrangements for the further conduct of the chit. Section 40 deals with termination of chits. According to Section 40, a chit shall be deemed to have been terminated,

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 … 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 and Registrar. Section 43 to 55 deal with winding

Javatha Raj, and Sri. S Narendra Vs. M/S. Margadarshi Chits (Karnataka ...

Court : Karnataka

Subject : Constitution

Acts : Chit Funds Act, 1982 - Section 71(1)(a); Industrial Reconstruction Bank of India (IRBI Act) - Section 40; Constitution of India - Article 226, 227

facts are as follows: The Is* respondent-M/s.Margadarshi Chits (Kar) Pvt. Ltd., is a chit company registered under the Chit Funds Act, 1982 (for short (the Act'). The 2nd respondent was a subscriber. He has drawn the chit amount on the … loan and calling upon the borrower company to pay the outstanding was issued. An application was filed under Section 40 of the IRBI Act for attachment and sale of the assets of the Borrower Company, in which 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

is - whether the Kerala Chitties Act 23 of 1975 became repugnant to the Central Chit Funds Act 40 of 1982 under Article 254(1) upon making of the Central Chit Funds Act 40 of 1982 (i.e. on … 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

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. … The group number was 91002. Monthly installment of sum of Rs.62,500/- for 40 installments, amounting to Rs.25 lakhs, is the periodical payment. The revision petitioner, … R Being aggrieved by the order made in Ar.O.P.No.20 of 2011 dated 04.08.2012, rejecting an application filed under Section 34 of the Arbitration and Conciliation Act, 1996, to set aside the award passed by Chits Arbitrator Deputy

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

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

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

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 … the assessee and as such chit subscription amounts collected was more than 40 lakhs during the impugned assessment year, the assessee was liable to get … 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

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

income-tax Officer Vs. J.M.P. Enterprises

Court : Income Tax Appellate Tribunal ITAT Amritsar

Subject : Direct Taxation

Reported in : (1993)46ITD104(Asr.)

12,150 to Udyog Finance and Chit Fund Pvt. Ltd. for utilisation of funds borrowed through the auspices of the partners. No doubt the borrowings were … Commissioner of Income-tax (Appeals) allowing deduction of Rs. 12,150 on account of interest paid to Udyog Finance and Chit Fund Pvt. Ltd. It is the contention of the Departmental Representative that loans were raised by the partners … correctly nor considered carefully the decision of the Tribunal dated February 27, 1982, in the case of Damodar Dass Jai Chand Aggarwal v. ITO [1982] … latest decision in the case of Mangal Automobiles has held that the question of disallowance of interest under Section 40(b) of the Income-tax Act will be governed by the form of transaction entered into. It is also observed