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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 … India of course can exempt any person or class of persons in exercise of the powers conferred under Section 67 of the Act. In our view, this Court under Article 226 of the Constitution of India cannot give

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 said dispute was taken on file by the Registar of Chits on 22.7.1991 under Sections 66 and 67 of Chits Funds Act 1982. The arbitration petition was heard on various dates. Before the arbitrator, the foreman

Dr. Vimala Vs. M/S. Shriman Chits and Investments Pvt. Ltd.

Court : Chennai

Subject : ArbitrationCommercialCivil

Acts : Code of Civil Procedure (CPC), 1908 -- Sections 47, 66, 71 -- Rule 50 -- Order 21, Rule 21, 43; Indian Contract Act, 1872 -- Sections 128; Chit Funds Act, 1982 -- Sections 33(1), 64(1), 67; The Arbitration Act, 1940

Reported in : 1999(3)CTC210

In the counter filed by the respondent, it would be urged that (i) under Section 64(1)(b) of the Chit Funds Act, 1982 (hereinafter referred to as the 'Act') a surety can be proceeded against for any dispute relating the chit … Indian Contract Act, the liability of the surety is co-extensive with that of the Principal Debtor; that under Section 67 of the Act, the Registrar or the nominee hearing a dispute, shall in addition to the powers conferred

S. Venkatachalam Vs. Secretary to Government of Tamil Nadu and Others

Court : Chennai

Subject : Company

Acts : Limitation Act, 1963 - Sections 12 and 12(2); Chit Funds Act, 1982; Chit Funds Rules, 1984

Reported in : [1999]95CompCas589(Mad)

against the award of the Deputy Registrar of Chits, an appeal is provided under section 70 of the Chit Funds Act, 1982, before the State Government. The petitioner presented the appeal on August 31, 1995. According to the petitioner, the … the Registrar to settle the dispute himself, or refer it for disposal to a person appointed by him. Section 67 provides the procedure for settlement of disputes and powers of the Registrar or his nominee. Section 69 provides

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 … foreman. (This judgments reported in AIR (1989) Kar page 125 - (1990) 67 Comp Cas p.203). The matter was examined in consultation with the Central … 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 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

Third Income-tax Officer Vs. R. Srinivasan

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Direct Taxation

Reported in : (1985)12ITD321(Mad.)

Srinivasan was fully engaged in the day-to-day management of the business of the firm which was running a chit fund. He also categorically found that Shri Srinivasan attended office everyday and devoted his time to chit collections … Shri R. Srinivasan, karta of the assessee in the present case, is a partner in a firm A.C.A. Funds, Tirunelveli. The firm paid a salary of Rs. 10,000 to Shri Srinivasan in the assessment year 1981-82, and … us. As the aspect of argument of Section 67(1)(b) of the Income-tax Act, 1961 ('the Act') was not further gone into because, it was outside … by the revenue. The appeals relate to the assessment years 1981-82 and 1982-83. The assessee filed an application for adjournment. We do not consider it

Mar Appraem Kuri Company Ltd. Vs. Tomy and anr.

Court : Kerala

Subject : Company

Acts : Chit Funds Act, 1982 - Sections 4

Reported in : [1999]96CompCas718(Ker)

was raised by the defendants/respondents that the plaint chitty was started in Bangalore and, therefore, only the Central Chit Funds Act, 1982, is applicable (which came into force on January 2, 1984). But, to conduct the above-said two chitties no … to conduct the above-said two chitties no sanction was accorded nor had they been registered in accordance with Section 4 of the Central Chit Funds Act and, therefore, the plaintiff kuri transaction is illegal. Yet another contention … Fund Ltd. v. Union of India, AIR 1989 Kar 125 ; [1990] 67 Comp Cas 203. Challenging that order of the Karnataka High Court in

Smt. P Prathiba Vs. M/s. Avenue Super Chits (p) Ltd.,

Court : Karnataka

Subject : Land Acquisition

beyond limitation. 1615. The counsel for the appellants brought to notice of this Court Section 71 of the Chit Funds Act, 1982 wherein it is clear that every order passed by the Registrar or the nominee under Section 68 or … jurisdiction over the village in accordance with Order XXI Rule 54(2) of CPC along with Order 21 Rule 67(2) of CPC hence, without which, the proclamation of sale is vitiated, thus, the decree holder had manipulated to

Smt. Parvathi vs Directorate of Enforcement

Court : Karnataka

or supervising, as foreman, agent or in any other capacity, chits as defined in Section 2 of the Chit Funds Act, 1982 (40 of 1982);(ha) “client” means a person who is engaged in a financial transaction or activity with a