Section 38 in The Chit Funds (Madhya Pradesh) Rules, 1984
38. Provision for expenses of winding-up.
- In making proposals for the distribution of the chit assets the Receiver shall specify the estimated amount of the cost of winding-up including remuneration for the Receiver and such other items of expenditure as are incidental to the winding-up and such estimated amount shall first be provided for and deducted from the value of the chit assets and the balance amount shall also be proposed for distribution in the provisional statement and the fresh list mentioned in Rule 37.
