Section 16(2) in Andhra Pradesh Chit Funds Rules, 2008
(2)The foreman after completion of the auction or draw shall intimate to all the subscribers the following details by a letter or post card.(a)Registration Number and Date(b)Chit amount(c)Instalment number(d)Amount of discount(e)Foreman commission(f)Net Amount to be paid to the prized subscriber or Amount to be deposited in bank if the subscriber did not furnish the security to the satisfaction of foreman.(g)Amount of dividend distributed among the subscribers.(h)Amount to be paid by the subscriber per each ticket.(i)Date of next draw and time.
