About this document

Chit Funds Act, 1982 Overview by Latest Laws Team is a document available to read on EtoBox.

This document provides information about the Chit Funds Act of 1982 in India. It defines key terms related to chit funds such as foreman, chit amount, prize amount, and subscriber. It also outlines some key requirements for operating a chit fund, including: - Chit funds must be sanctioned by the state government and registered to operate legally. - Foremen must obtain prior sanction before inviting public subscriptions or conducting a chit. Sanction can be refused if the foreman has a criminal history or

Author

Latest Laws Team

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EN