Section 46 in The Maharashtra Chit Funds Act, 1974
46. Chit assets to vest in Court for distribution.
- On the making of an order for the winding up of a chit, the entire chit assets shall vest in the court for distribution amongst the subscribers to whom amounts are due in respect of the chit and the court shall pass such orders in the matter (including the appointment of a Receiver) as it deems fit.
