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The Mayavaram Financial Chit Corporation Ltd. Vs. R. Narayanan and Two ...

Court : Chennai

Subject : Civil

Acts : Chit Funds Act, 1982 - Sections 64 and 85; Code of Civil Procedure (CPC) , 1908 - Sections 9; General Clauses Act, 1897 - Sections 6; Pondicherry Chits Funds Act, 1966

Reported in : 1996(2)CTC170

in the Extra Ordinary Gazette of India dated 28.10.86, on the first day of November, 1986. As per Section 85 of the Chit Funds Act, 1982, nothing in the said Act shall apply in respect of any chit … not maintainable?2. Whether the Court has no jurisdiction to try this suit in view of Section 64 of Chit Funds Act, 1982 and only an arbitration would lie before the Registrar of Arbitration?3. Whether the defendants made number of payments

M/S. Kavery Trading, Financing and Chits (Private) Limited, Bangalore ...

Court : Karnataka

Subject : Civil

Acts : Chit Funds Act, 1982 - Sections 64(1) and 85

Reported in : ILR1997KAR3432; 1998(1)KarLJ349

learned Counsel for the petitioner submitted that the learned Small Causes Judge has erred in not looking into Section 85 of the Chit Funds Act, 1982. In view of this Section 85 of the Chit Funds Act, 1982 … instalment. During the pendency, the first defendant filed I.A.VI stating that in view of Section 64(1) of the Chit Funds Act, 1982 the suit is not maintainable as such the suit ought to be dismissed. After filing of the objections

Sree Visalam Chit Funds Limited Vs. Mrs. S. Suguna and Others

Court : Karnataka

Subject : Commercial

Acts : Code of Civil Procedure (CPC), 1908 - Order 2, Rule 2; Chit Funds Act, 1982 - Sections 64(3) and 85

Reported in : AIR2001Kant251; ILR2001KAR1524; 2001(4)KarLJ226

suit and the suit filed is also not maintainable as it is barred under Section 64(3) of the Chit Funds Act, 1982 (for short 'the Act').2. In this appeal, the point that arises for consideration is.-'Whether the Trial Court is … 64(3) of the Act. This finding is also not correct as it has been done without notice to Section 85 of the Act. From the plaint averments, it is seen that the chit was commenced on 9-12-1982. Section

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 … advanced on behalf of the private chit firms are to be accepted. According to the learned counsel, Section 85(a) and Section 90(2) of the Central Chit Funds Act, 1982 inter alia provide for continuance of the application

Recovery Manager vs Biju.B.S.Nair

Court : Kerala

Subject : Land Acquisition

07.04.2022 in C.R.P.No.790 of 2019 held that in view of the FAO NO.53/2021 4provisions under clause (a) of Section 85 of the Chit Funds Act, 1982, nothing in the Chit Funds Act shall apply in respect of any … 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

M/S. Oriental Kuries Ltd. Rep. By Its Chairman P. D. Jose Vs. Lissa

Court : Supreme Court of India

Subject : Land Acquisition

v. Mar Appraem Kuri Company Ltd. and Ors.4 The Constitution Bench held that on the enactment of the Chit Funds Act, 1982 which covered the entire field of “chits” under Entry 7 of List III of the Constitution, the Kerala … Respondent filed two Second Appeals bearing AFA Nos. 84 of 1994 and 85 of 1994 before the Division Bench of the Kerala High Court. The … 3 since the same was started from Mangalore, Karnataka. The Appellant being a trading company, was exempted under Section 13(1)(e) of the Companies Act, 1956 from specifying the States to which the objects would extend in the

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 … Reference could be made where the tax effect did not exceed TOs. 8500/- in terms of the instruction of the Board which was in force

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 … in fact by a table which itself has been noted in paragraph 85 of the judgment has mentioned the income and expenditure related to transit … 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

All Kerala Chitty Foremen'S Association vs the Union of India,

Court : Kerala

Respondents 7 to 13 and other Co-operative Societies satisfy the definition of 'chit' as understood in the Chit Fund Act, 1982 (Act 40 of 1982);(ii) issue a writ of mandamus or any other appropriatewrit or order restraining … 7 to 13 and other Co-operative Societies satisfy the definition of 'chit' as understood in the Chit Fund Act, 1982 (Act 40 of 1982);(ii) issue a writ of mandamus or any other appropriatewrit or order restraining Respondents 7 … PANMANA SERVICE CO-OPERATIVE BANK LTD.NO.3035 KOLLAKA.P.O., KARUNAGAPPALLY, KOLLAM, REPRESENTED BY ITS SECRETARY. 85 THE THEKKUMBHAGAM SERVICE CO-OPERATIVE BANK LTD NO.1731 CHAVARA SOUTH.P.O., KOLLAM, REPRESENTED BY … order or direction directing Respondents 1 to 4 to initiate action under Section 76 of the Act against Respondents 7 to 13 and other Co-operative

Reserve Bank of India Vs. Peerless General Finance and Investment Co. ...

Court : Supreme Court of India

Subject : Commercial

Reported in : 1987(1)SCALE100; (1987)1SCC424; [1987]2SCR1; 1987(1)LC586(SC); AIR 1987 SC 1023; MANU/SC/0073/1987

which they considered were important Non-Banking Financial Institutions. They were:-1. Hire Purchase Finance Institutions; 2. Investment Companies; 3. Chit Funds/Kuris; 4. Nidhis or Mutual Benefit Funds; and5. Finance Corporations.19. Proceeding to consider Chit Funds and their working, the … 1979, 1980, 1981, 1982, 1983, and 1984 was 17, 16, 27.59, 48.07, 85.70, 129.23, 129.50 and 126.47 lakhs, while the commission paid to the field … The only reason why the appeals are being dismissed is on the wording of Section 2(e) of the Act. A close study of the definition makes the conclusion inescapable that the Peerless scheme does not come within … : [1981]1SCR801 and State of West Bengal v. Swapan Kumar Guha. : 1982CriLJ819 . Any attempt to distinguish the ratio of these two cases for