Section 6(2) in Andhra Pradesh State Prize Chits and Money Circulation Schemes (Banning) Rules, 1979
(2)On receipt of the comments of such officer and after consulting the Reserve Bank on the application for the winding up of the business of the existing schemes or as the case may be, on the application for extension of time for the winding up of such business the State Government may approve or disapprove the application for the proposed winding up of such business or approve with such modifications as it deems fit and may grant extension of time for such period as may be considered desirable in public interest and subject to such terms and conditions as may be deemed necessary or expedient (including the furnishing of security by the promoter for the repayment of the amounts due to the subscribers to the schemes) refuse to grant extension of time:Provided that no order modifying or rejecting the application containing the winding up plan or modifying or rejecting the application for extension of time for the winding up of the existing schemes shall be passed without giving to the promoter an opportunity of being heard.
