claim consolidated payment of all the future subscriptions from a defaulting prized subscriber, unless he shall have demanded the same in writing, that ... postponement of the right to file the suit against a defaulting subscriber.
11. In the present case the payment of Rs. 130 upto 22nd July
subscriber in place of defaulting subscriber and may himself subscribe for the ticket and the defaulted ticket of the chit will be dealt with subject ... such terms as the Foreman deems proper.
Prized subscriber: When a prized subscriber defaults in payment, a penalty of 6 paise per rupee or part
subscriber, past subscriber or a person claiming through a
subscriber, or a deceased subscriber to a chit;
(b) a surety of a subscriber, past subscriber ... subscriber, or due from him to a subscriber, past subscriber or the nominee,
heir or legal representative of a deceased subscriber whether such debt
chit Funds to default. It is not shown by any evidence which we can accept that the default of some fifty subscribers in the present ... plaintiff to adduce much better evidence by calling some of the defaulting subscribers or producing accounts of the chit Fund and he has not done
chit terminates only on 16th March, 1990. As the subscriber had committed default from 8th month onwards, the foreman had initially filed a suit ... other law in force, a foreman, a prized subscriber or a non prized subscriber including a defaulting subscriber and a surety of a subscriber
consolidated payment of all the future subscriptions at once, from a defaulting prized subscriber unless he shall have demanded the same in writing ... default is made
or bond payable by unless where the payee
default instalments, which or obligee waives the
provides that, if default benefit
well as proof. However, as is customary in chit transactions, the defaulting subscriber is bound to pay interest at the contracted rate which is indicated ... calculated from the date of default by the subscriber till date of the winding-up order at 18 per cent per annum and thereafter
date of termination of the chit period, though the prized
subscriber committed default much prior to the date of termination of the chit
period ... consolidated payment of all the future subscriptions at
once, from a defaulting prized subscriber unless he shall have demanded the
same in writing
money.
17. Clause 6 deals, again, with prized subscribers. A prized subscriber, who has taken the bid money furnishing security to the satisfaction ... claim in a lump all the future instalments if the subscriber defaults payment of one or two instalments within the mischief of the principle regarding
claim consolidated payment of all the future subscriptions from a defaulting prized subscriber unless he shall have demanded the same in writing."
This provision ... suit instituted by the foreman to recover from a prized subscriber the amount of defaulted instalments due under a chitty security bond would be governed
