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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 person authorised by him when acting under section 46." 19.Rules 52, 53, 54 and 55 of the Chit Funds Rules, 1984 are extracted hereunder, … 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

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 … MR. JUSTICE SYAM KUMAR V.M. THURSDAY, THE 3RD DAY OF APRIL 2025 / 13TH CHAITHRA, 1947 FAO NO. 53 OF 2021 ARISING OUT OF THE ORDER DATED 13.02.2020 IN I.A.NO.111 OF 2019 IN OS NO.106 OF 2008

Commissioner and Secretary to Govt., Commercial Taxes and Religious En ...

Court : Supreme Court of India

Subject : Commercial

Acts : Tamil Nadu Chit Funds Act, 1961 - Sections 7, 11, 12, 16, 20, 21, 29, 32, 37, 51, 52, 53, 54, 56 and 63; Tamil Nadu Chit Funds Rules 1961 - Rules 3, 11, 14, 15 to 22 and 42 - Article 1

Reported in : AIR1992SC1383; [1992]74CompCas650(SC); JT1992(3)SC591; (1993)1MLJ3(SC); 1992(1)SCALE900; (1992)3SCC488; [1992]2SCR735

High Court in its judgment dated 20.3.1985 has struck down as invalid the impugned amendments.2. The Tamil Nadu Chit Funds Act, 1961 (The Act) provides for the regulation of chit fund in the State of Tamil Nadu. 'Chit' is … empowers the Government to make rules for carrying out all or any of the purposes of the Act. Section 53 which provides for levy of fees reads:53. (1) There shall be paid to the Registrar such fees as

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 … wound up in accordance with Chapter X of the Act. Powers of the Registrar have been mentioned in Section 53. Disputes can be settled by an arbitrator in accordance with Chapter XII. Under Section 73 the Reserve Bank

Sunder Lal JaIn Vs. Sandeep Paper Mills P. Ltd. and ors.

Court : Punjab and Haryana

Subject : Company

Acts : Companies Act, 1956 - Sections 286(1) and 531A; Provincial Insolvency Act, 1920 - Sections 53

Reported in : [1986]60CompCas77(P& H)

be held that the transferee was lacking in bona fides.11. Mr. Sharat Chander referred to Official Liquidator, Victor Chit Fund P. Ltd. v. Kanhiya Lal [1972] 42 Comp Cas 396 (Delhi), and Official Liquidator Kerala High Court … in bona fides.11. Mr. Sharat Chander referred to Official Liquidator, Victor Chit Fund P. Ltd. v. Kanhiya Lal [1972] 42 Comp Cas 396 (Delhi), and … by the petitioner.24. The petitioner also moved C. A. No. 42 of 1982 in the abovesaid petition stating that Mr. Sudhma Ram, Mr. R.K. Grover … resolution for voluntary winding up of the company, shall be void against the liquidator.'8. It is equivalent to Section 53 of the Provincial Insolvency Act. The reason for introducing the section in the Companies Act, as given in

A. Ravishankar Prasad, A. Sai Vs. Prasad Productions Private

Court : Company Law Board CLB

Subject : Land Acquisition

Reported in : (2007)135CompCas416

CLB will not order an investigation into the affairs of the company. Mrs. U.A. Sumathy v. Dig Vijay Chit Fund (P.) Ltd. (1983) 53 CC 493 - to show that no investigation could be ordered merely because … members, as laid down in Section 397. The authorised capital was increased with the sole object of diverting funds of the Company to Prasad Media Corporation Ltd., which is managed by the third respondent to implement the … silver was shown in the profit & loss account during the years 1982 to 1992 under the head "miscellaneous receipts". The respondents group cannot be … 398, Schedule XI read with Sections 402 and 403 of the Companies Act, 1956 ("the Act") alleging against the respondents, the following acts of oppression

Premier Plantations Ltd. Vs. M. Ebrahimkutty

Court : Kerala

Subject : Company

Acts : Companies Act, 1956 - Sections 10, 237, 237(1) and 483

Reported in : [2002]110CompCas721(Ker)

and mere allegations are insufficient. It was held by this court in Mrs. U.A. Sumathy v. Dig Vijay Chit Fund (P.) Ltd. [1983] 53 Comp. Cas. 493, that:'... No doubt, Clause (d)(ii) of Section 237 does not … the petitioner and other members of the board of directors who opposed the misutilisation and misappropriation of public funds. He created documents and minutes purporting to remove the petitioner and others who opposed the mismanagement and oppression. … petitioner for convenience) filed a petition under Section 237 of the Companies Act, 1956 ('the Act') to direct the Central Government to appoint one or

Sree Murugan Financing Corporation Chit Promoters and Financiers and o ...

Court : Chennai

Subject : Constitution

Reported in : (1987)1MLJ204

commensurate with the services extended, and not intended to augment the general 'revenue of the State. Inspite of Chit Funds Act, 1982 (Central Act 40 of 1982) coming into force in so far as Tamil Nadu is concerned on 13.4.1984, … the Foreman under Form II and it shall be accompanied by the fees set out in Appendix II. Section 53(a) provides that Government may from time to time prescribe the fee that shall be paid to the Registrar

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, … W.P. No. 5765 of 1986; 52. W. P. No. 6128 of 1986; 53. W.P. No. 13414 of 1986; 54. W.P. No. 173 of 1987; 55. … provided for. Accordingly, a new Cl. 77 was added. These clauses in the Bill correspond to the respective sections in the Act. The other amendments proposed by the Committee are of a clarificatory nature and are only

Karnataka Steel and Wire Products Ltd. (In Liquidation) Vs. Kohinoor R ...

Court : Karnataka

Subject : CompanyArbitration

Acts : Companies Act, 1956 - Sections 391, 441, 442, 443, 444, 445, 446, 446(1), 446(2), 446(2B), 446(3), 447, 456, 457, 458A, 466(2) and 543; Banking Regulation Act, 1949 - Sections 45B and 45G; Limitation Act, 1963 - Schedule - Article 137

Reported in : [1993]77CompCas179(Kar); [1993]78CompCas96a(Kar); ILR1993KAR293; 1993(1)KarLJ212

claim the debt accrues from the date the winding up order is passed. 48. In Unico Trading and Chit Funds India (P.) Ltd. v. S. H. Lohati [1981] 2 KLJ 144; [1982] 52 Comp Cas 340 (Kar), a … do not lay down the law correctly. We, accordingly overrule the same. 53. For the reasons stated above our answer to the question referred to … K.A. Swami, Actg. C.J.1. This Division Bench consisting of N. Venkatachala, J. (as he then was) and K. Shivashankar Bhat, J. … has referred the following question for consideration by a Full Bench under section 7 of the Karnataka High Court Act, 1961 : 'What is the