under Section 4
r/w 76(1) of the Chit Funds Act, 1982 in the above Crime
No.724 of 2020 of III Town Police ... under the Chit Funds Act .
5. Learned counsel for the petitioners sought quash of the
F.I.R. on the ground that there is delay
under Section 76 r/w 4 and 11 of
the Chit Funds Act, 1982 . The said case is now under
investigation.
4. The contents ... under
2
Section 76 r/w 4 and 11 of the Chit Funds Act . So, the matter
requires investigation to find out the truth
under Section
76 of the Chit Fund Act, who are A-1 to A-3 in the above crime.
At the time of hearing, learned
Sections 420 and 406 IPC and under
Section 76 of the Chit Funds Act, 1982, on 03.10.2021 against one
Padala Gopi alone. Now, the grievance
punishable under Section 420 IPC and under Section 76 of the
Chit Funds Act.
At the time of hearing, learned counsel for the petitioner
Financial Establishment Act.
4. Briefly stated the case of the prosecution is that the
petitioner herein has been running the chit business, real estate
business ... collected some crores
of rupees from the public towards chit amount in the chit fund
business transaction. He did not repay the amount payable
been organizing a chit fund transaction and the de facto
complainant has joined as a member in the chit group and she
paid monthly installments ... Code, 1860 and under Section 4
of the Prize Chits and Money Circulation Schemes (Banning)
Act, 1978. The said case is now under investigation
prima facie show that
the petitioner has run a private unauthorized chit fund business
and collected huge money from the public and thereafter ... returns payable to the subscribers of the said chit fund
scheme and has squandered away the public money to a tune of
lakhs of rupees
public towards chit
fund transaction and thereafter they did not pay the amount
payable to the petitioners and other members in the chit group ... said amount and cheated the
petitioners and other members of the chit group. The said report
was registered as a case in the above crime
