Section 17(1) in Andhra Pradesh Chit Funds Rules, 2008
(1)Form of minutes of proceedings:- The minutes of proceedings of every draw shall, in addition to the particulars specified in sub-section (2) of section 17 contain full particulars of the following points namely;(a)Particulars of deposit, if any, of the prize amount under sub-section (2) of section 22 since the date of previous draw;(b)Particulars of deposit, if any, of money under sub-section (1) of section 22, sub-section (1) of section 30 and sub-section (4) of section 33 since the date of the previous draw;(c)Amount withdrawn from the approved bank (the name of the Bank to be specified) and the purpose for which the amount was withdrawn since the date of the previous draw;(d)How the prized subscriber was ascertained according to the terms of the Chit agreement and particulars of tickets and prize amount. If the ascertainment of the prized subscriber related to a fraction of a ticket, particulars in respect of each such fraction shall be entered;(e)Full particulars of the commission, or remuneration for meeting the expenses of the Chit paid to the foreman and the amount of dividend assigned to each subscriber;(f)Names of subscribers or their authorized agents who bid the draw, their ticket numbers and signatures.
