Chapter II — Registration Of Chits, Commencement And Conduct Of Chit Business

Section 8 — Minimum capital requirements for the commencement, etc., of a chit, and creation of a reserve fund, by a company

Chit Funds Act, 1982 · Preview

(1) Notwithstanding anything contained in the Companies Act, 1956 (1 of 1956), but subject to the provisions of this Act, a company shall not commence or carry on chit business unless it has a…