identified as the giving of prizes to the lucky ones and the refunding of subscription to everyone. These prize chits by whatever name known were ... prizes, depending on the nature of the scheme. Clauses (i) and (ii) refer to the twin attributes of a Prize Chit or like scheme
Chits, Karimnagar and in response to the same, the Chit Registrar, summoned the opposite party and asked them to pay chit prize amount ... another chit and transferring his chit to another person as the same is not in violation of the chit agreement. The instant chit
wise details along with
address and PAN in respect of chit account, chit prize money receivable,
other receivables, unmatured discount on chits, discount on prizing ... offered
is known as 'discount on prizing chit' and amount received is called
chit prize! An example can be given to explain
chit was orally requesting for extension of time and that the complainant as subscribers to the said chit waited for getting the chit amounts without ... Kashmir. Admittedly, the subject chit commenced from the Jammu branch of the Namakkad chit funds and the said chit was commenced by the opposite party
identified as the giving of prizes to the lucky ones and the refunding of subscription to everyone. These prize chits by whatever name known were ... prizes, depending on the nature of the scheme. Clauses (i) and (ii) refer to the twin attributes of a Prize Chit or like scheme
authority to file the
complaint. He was a surety of the prized chits towards payment of future ... instalments. The complainant had received the money under both the prized and
non-prized chits and no amount was due to the complainant. The amount
Sections 406 & 420 IPC and Sections 3 and 4 of Prize Chits and Money Circulation Schemes (Banning) Act, 1978 and the applicant was arrested ... termed as Conventional Chit, which is excluded from the definition of Prize Chit, as Sections 3 and 4 make running of only Prize Chits
debts in respect of running
chits, bad debts in respect of terminated chits, commission on cancelled chits, and
royalty are allowed. The AO is directed ... duties of prized subscribers. Sections 31 to 33 in Chapter V read as follows:
"31. Prized subscriber to furnish security.--Every prized subscriber
shall
debts in respect of running
chits, bad debts in respect of terminated chits, commission on cancelled chits, and
royalty are allowed. The AO is directed ... duties of prized subscribers. Sections 31 to 33 in Chapter V read as follows:
"31. Prized subscriber to furnish security.--Every prized subscriber
shall
debts in respect of running
chits, bad debts in respect of terminated chits, commission on cancelled chits, and
royalty are allowed. The AO is directed ... duties of prized subscribers. Sections 31 to 33 in Chapter V read as follows:
"31. Prized subscriber to furnish security.--Every prized subscriber
shall
