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[Cites 0, Cited by 0] [Section 14(1)] [Section 14] [Entire Act]

State of Uttar Pradesh - Subsection

Section 14(1)(b) in Uttar Pradesh Chit Funds Act, 1975

(b)deposit in an approved bank an amount equal to the chit amount or invest in Government securities of the face value of not less than one and half time the chit, amount and transfer the amount so deposited or the Government securities in favour of the Registrar to be held in trust by him as security for the due conduct of the chit: