definition of "Prize chit" in Prize
Chits and Money Circulation Scheme (Banning) Act, 1978 are
to be read disjunctively--Phrase ... name called should be banned. Since prize
chits were called differently, "prize chits" benefit/ sav-
ings schemes, "lucky draws
entitled to organise its schemes in Madhya Pradesh as such schemes constitute " money circulation schemes " within the prohibition of Section ... scheme or arrangement by whatever name called; it may be called a savings scheme/ arrangement, mutual benefit scheme/arrangement, chit scheme/arrangement, (ii) there should
names, such as price
chit, lucky-draw, benefit scheme or money circulation
scheme. They offered prizes to attract subscribers. The
basic features, however, remained ... bank at the
instance of the company, the scheme is an investment scheme
and not prize chit. We are unable to accept this submission
operated a. scheme in order to encourage thrift as also to mobilise funds for developmental works. Under the gift linked scheme a prize coupon ... mobilise funds for developmental works, saving schemes are operated by the Government. Under the gift linked scheme, a prize coupon is given to the investor
prize purchase as per Prize Chits and Money Circulation Banning Act, 1978 (Act 43 of 1978), read with the Tamil Nadu Prize Schemes (Prohibition ... falls within the definition of prize chit? Section 3 bans prize chit and money circulation schemes and the ban is not merely on promoting
operated a scheme in order to encourage thrift as also to mobilise funds for developmental works. Under the gift linked scheme a prize coupon ... mobilise funds for developmental works, saving schemes are operated by the Government. Under the gift linked scheme, a prize coupon is given to the investor
Deepavali Special Malar containing prize coupons carrying prizes of different value, would constitute the ingredient of the prize scheme as defined under Section ... containing a prize coupon carrying some prize or the other which are not equal in value, definitely would mean a prize scheme within the
definition
Proprietor of Hotel Ananda Bhavan, had announced a prize scheme viz., that for every bill of Rs.50/- issued between ... prize coupon will be issued and in the draw of lots, persons selected will be given a prize. The said prize scheme was announced
game of chance and
was offending the Prize Competitions Act, 1955 , Tamil Nadu Lotteries and
Prize Schemes (Prohibition) Act, 1978 and the Prize Chits ... prizes announced; Therefore, it is only to induce the people to purchase
the commemorative volume. Therefore, the prize scheme was announced only
to sell
operated a scheme in order to encourage thrift as also to mobilise funds for developmental works. Under the gift linked scheme a prize coupon ... mobilise funds for developmental works, saving schemes are operated by the government. Under the gift linked scheme, a prize coupon is given to the investor
