Chit Fund Act prescribes the rights of foreman to include, (a) to obtain the chit amount at the installment specified in the chit agreement ... chit.
4.4 The terms which are frequently in use in relation to a chit fund, viz., "chit", "chit agreement", "discount
District
Forum, the complainant has filed appeal contending that the chit agreement is
opposed to law and that the respondent refused to release prize amount ... appellant joined in the chit group bearing reference noFVJT4F1-44with the respondent-chit fund company for
the chit value of `1,50,000/- each
subscriber for each chit, under sec 4 state government
permission is required to commence a chit, under sec 6 every chit
agreement shall ... dividend. The Provisions of Maharashtra Chit Fund
Act 1974 and Chit Fund Act 1982 are referred and chit agreements
are entered with Chit
terms relevant to the issue before us are, chit, chit agreement, chit amount, defaulting subscriber, discount, dividend, draw, foreman, non-prized subscriber, prize amount, Registrar ... exceeding five per cent, of the chit amount as may be fixed in the chit agreement by way of commission, remuneration or for meeting
dues payable by the other chit subscribers having regard to the
terms and conditions of the chit agreement and the consent given by the complainant ... towards
his chit account and was a non prized
chit holder valued at Rs.10,000/- per month, face value of chit being
Chit Funds Act, 1982 , as well as Clause-IX of the Chit Agreement to submit that, for each chit, the Foreman is entitled ... chit without discount;
(b) to such amount not exceeding five per cent. of the chit amount as may be fixed in the chit agreement
chit organization and subscriber (whether or
not a prized subscriber) is not relationship of creditor and debtor. By
considering the chit agreement as well ... Supreme Court in Shriram
Chits and Investments Pvt. Ltd Vs Union of India AIR 1993 SC 2003 that
chit agreement is not a money lending
chit organization and subscriber (whether or
not a prized subscriber) is not relationship of creditor and debtor. By
considering the chit agreement as well ... Supreme Court in Shriram
Chits and Investments Pvt. Ltd Vs Union of India AIR 1993 SC 2003 that
chit agreement is not a money lending
chit organization and subscriber (whether or
not a prized subscriber) is not relationship of creditor and debtor. By
considering the chit agreement as well ... Supreme Court in Shriram
Chits and Investments Pvt. Ltd Vs Union of India AIR 1993 SC 2003 that
chit agreement is not a money lending
chit organization and subscriber (whether or
not a prized subscriber) is not relationship of creditor and debtor. By
considering the chit agreement as well ... Supreme Court in Shriram
Chits and Investments Pvt. Ltd Vs Union of India AIR 1993 SC 2003 that
chit agreement is not a money lending
