Section 12(3)(iii) in Andhra Pradesh Chit Funds Act, 1971

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State of Andhra Pradesh - Subsection

Section 12(3)(iii) in Andhra Pradesh Chit Funds Act, 1971

(iii)Where owing to the default of the prized subscriber the prize amount due remains unpaid even after the termination of a chit, until the fore-man deposits the prize amount in an approved bank mentioned in the chit agreement and intimates in writing the fact of such deposit to the prized subscriber.

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State of Andhra Pradesh - Subsection

Section 12(3)(iii) in Andhra Pradesh Chit Funds Act, 1971