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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, … existing lawof the Parliament enshrined under the Companies Act, 1956. The provision for extension of time contemplated under Section 75 is said to be unreasonable and insufficient. So far as Ss. 76, 77 and 79 are concerned the

N. Aruldhas Vs. K. Gopinathan Nair

Court : Chennai

Subject : Limitation

Acts : Limitation Act, 1963 - Schedule - Articles 17, 37 and 75; Chit Funds Act, 1982 - Sections 25

Reported in : (1991)IIMLJ337

- time barred - Articles 17, 26, 36, 37 and 75 of Schedule to Limitation Act, 1963 and Chit Funds Act, 1982 - petitioner was prized subscriber and after being successful in bid he executed two promissory notes by way … filed within 3 years of the date of Ex.A.5 notice,is not barred by limitation. Even without relying on Section 25 of the Act,it can be held in this case that the suit is not barred by limitation.As

Dhanalakshmi Srinivasan Chit Funds Private Limited vs B.Revathi

Court : Chennai

sum of Page Nos.2/9 Rs.1,75,040/- pursuant to an arbitration award passed by the Chit Funds Registrar under the Chit Funds Act, 1982.4. The Learned counsel would state that the Executing Court haserroneously dismissed the execution petition by applying the … Amirthalingam W/o. Nagalingam, No.67, Subramanian St, Saidapet West, Chennai - 015. … RespondentsPrayer: Civil Revision Petition filed under Section 115 of Civil Procedure Page Nos.1/9 Code, to set aside the order and decreetal order dated 15.12.2023 made

Maitreya Services Private Limited Lawrence Trade Centre Co-op Hsg. Soc ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Subject : Land Acquisition

within the meaning of Chit business as defined in clause (d) of section 2 of the Chit Fund Act, 1982 (40 of 1982); (viii) under which contributions made are in the nature of subscription to a mutual fund; … not offer any exorbitantly high returns to its buyers but an acceptable figure of 12% per annum. The funds raised are not utilized only for development of the alleged schemes but also go towards “ongoing corporate expenses … No. 1 was that of delivering possession of land upon receipt of 75% of the consideration for the plot, or alternately to repay the part

State of Uttaranchal Vs. M/S. Kumaon Stone Crusher

Court : Supreme Court of India

Subject : Right to Information

of the Constitution, List III Entry 7 pertains to contracts including special forms of contracts. The Parliament enactment, Chit Funds Act, 1982 and State legislature Kerala Chitties Act, 1975, the subject being under concurrent list, in paragraph 27, the Court … 1957 Act was considered in the context of Industries (Development and Regulation) 75 Act,1951 and Mines and Minerals(Development and Regulation) Act, 1948. This Court repelled … Pradesh, State of Uttarakhand and State of Madhya Pradesh is in question. 3. In exercise of power under Section 41 of Indian Forest Act , 1927 (hereinafter referred to as “1927 Act) rules have been framed by

Assam Roller Flour Mills Association and ors. Vs. State of Assam and o ...

Court : Guwahati

Subject : Civil

made qua the assent. A passing reference at this stage may also be made of the decision Subodh Chit Fund (P) Limited (Supra), wherein the Apex Court had approved the conclusion of the Madras High Court that … to the contentious issue on quid pro quo and unauthorized creation of funds from the collections and expenses therefrom. According to the petitioners, levy of … In Bihar S.A. Product Marketing Board. v. Shankar Makhana Bhandar (Supra), by the Bihar Agricultural Produce Markets (Validation) Act, 1982, market fee levied, collect or to be levied or collected was sought to be saved from being illegal … of writ petitions register an identical challenge to the constitutional validity of Section 3D, 3E, Clause (ii) and (iii) of Explanation-1 to Section 21 as

Nesar Khan Alias Mangaru Vs. The State of Jharkhand

Court : Jharkhand

Subject : Criminal

Penal Code, section 70 of the Prevention of Money Laundering Act, 2002 and section 76/79 of the Chit Fund Act, 1982. It has been submitted by the learned counsel for the petitioner that the petitioner was never … Code, section 70 of the Prevention of Money Laundering Act, 2002 and section 76/79 of the Chit Fund Act, 1982. It has been submitted by the learned counsel for the petitioner that the petitioner was never the Director … constant touch with this petitioner. It has further been submitted that paragraph 75 of the supplementary case diary contains the holding of T.I. Parade, but

Peerless General Finance and Investment Co. Ltd. and anr. Vs. Reserve ...

Court : Kolkata

Subject : BankingCompany

Acts : Reserve Bank of India Act, 1934 - Section 45J, 45K, 45K(3) and 45L

Reported in : [1996]85CompCas808(Cal)

a chit. Explanation I.--'Chit' has the meaning assigned to it in Clause (b) of Section 2 of the Chit Funds Act, 1982. Explanation II.--Any credit given by a seller to a buyer on the sale of any property (whether movable … of India Act (see paragraph 16 at page 1043 of AIR 1992 SC ; at page 85 of 75 Comp Cas).25. It is the contention of the petitioners that Peerless cannot be said to be carrying on

Lakshmi Srinivas Savings and Chit Funds Syndicate Private Limited Vs. ...

Court : Chennai

Subject : Civil

Acts : Chit Funds Act, 1982 - Sections 12 and 12(1); Banking Regulation Act, 1949 - Sections 8

Reported in : IV(2008)BC198

of the same company and no separate company was registered to perform finance business independently.12. Section 12 of Chit Funds Act, 1982 reads thus:Prohibition of transacting business other than chit business by a company-(1) Except with the general or special … the respondent had obtained a loan of Rs. 44,000/- and was also co-obligant for a sum of Rs. 75,000/- obtained by one A.C. Ajja Gowder son of Chandra Ajja Gowder of Aravenu. In order to show that

Secured Investment Company and ors. Vs. Registrar of Firms, Societies ...

Court : Allahabad

Subject : Commercial

Acts : Prize Chits and Money Circulation Schemes (Banning) Act, 1978 - Sections 2 and 3

Reported in : AIR1984All28

this Act defines the 'conventional chit' as under:--'Section 2(a) 'conventional chit' means a transaction whether called chit, chit fund kuri or by any other name by or under which a person responsible for the conduct of the … that the notice issued to them may be withdrawn. On 3rd February, 1982, the petitioner received an order from the opposite party in which it … J. 1. This writ petition is directed against certain orders passed by the Registrar of Firms. Societies and Chits. Uttar Pradesh. Lucknow. The action, which purports to have been taken against the petitioners under the provisions of