(2)Where the foreman is a firm or other association of individuals, the aggregate chit amount of the chits conducted by the firm or other association shall not at any time exceed,—(a)where the number of partners of the firm or the individuals constituting the association is not less than four, a sum of rupees [one lakh]**;(b)in any other case, a sum calculated on the basis of [twenty-five thousand rupees]* with respect to each such partner or individual.
