future installments. She also can not claim as
she is the defaulting subscriber. The counsel for the complainant
argued that ... subscriptions successively for two installments he shall
be treated as defaulting subscriber. The complainant paid only 17
installments and she did not pay remaining installments
Foreman to claim interest and penalties, if any, payable or in
default of payment of instalment and such other amounts as may be
payable ... Foreman of the chitty and the first respondent is a
defaulted subscriber. In the circumstances, the appellant is entitled to get
back an amount
shown to have been credited to the account of the
subscriber. In this juncture, it is relevant to note that
though the chitty ... chitty
bonus which is to be excluded in the case of defaulted
subscriber. So, according
paid to the subscriber on 17.4.2008. The subscriber as well
as the accused, who is the guarantor of the subscriber,
executed all necessary documents ... interest @ 18% per annum for the defaulted amount.
The subscriber defaulted payment of the subscription and
subsequently, the accused issued Ext.P5 cheque dated
complainant, the prize
amounts were paid to the first accused the subscriber by
the complainant respectively on 27/09/2006 and
Crl.A.No.1750 ... 2007. It is the case of the complainant that, if the
subscriber defaults the subscriptions to the chitties, the
subscriber is liable to pay interest
Dhaneswari Chits Pvt. Ltd. The chit was
auctioned by the subscriber and the complainant paid the
Crl.R.P.1713 of 2009 2
amount ... chit amount,
accused was a surety to the subscriber. After receiving of
the amount, the subscriber defaulted the instalments.
The accused, as guarantor
provisions of the Chit Funds
Act, 1982 . The accused had subscribed for a chit group
bearing No.GIT02J-49 with the Ticket ... examination PW.1 mainly attacked him
by the accused that when subscriber defaulted in paying
future subscription chit premium amount, the said firm
issued notice
offices for recovery of due amounts
from defaulting subscribers on behalf of the company,
under The Chit Funds Act, 1982 in Bangalore Courts".
//TRUE
terms of Ex.P18 Chit agreement the defaulted
subscribers are liable to pay interest @ 24%. But in Ex.P9 &
10 Statements
Chits as per
the provisions of the Chit Funds Act . The accused
subscribed Chit bearing No. BSN001LG-32 for Chit value ... from the terms of Ex.P12 Chit
Agreement that if subscriber defaulted continuously for
a period of 3 months, such subscriber is liable
