Search Results for "Chit Fund"

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High Court of Karnataka Quashes Arbitration Proceedings in Chit Fund Dispute for Lack of Jurisdiction. Arbitration Clause in Chit Fund Agreement Not Binding as Chit Fund Act Overrides Arbitration and Conciliation Act.

The petitioner, Sri H.B. Shivakumar, filed a writ petition under Articles 226 and 227 of the Constitution of India seeking to quash arbitration procee...

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Madras High Court Modifies Direction to Deposit Principal Balance in Chit Fund Dispute; Allows Adjustment Under Rule of Appropriation. Subscriber Directed to Pay Part Amount to Chit Fund Company Pending Statutory Appeal Under Section 70 of Tamil Nadu Chit Fund Act, 1961.

Background: The dispute arises from a chit fund transaction. The appellant is a chit fund company, and the first respondent is a subscriber. An arbitr...

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High Court Modifies Single Judge’s Order in Chit Fund Payment Dispute Under Tamil Nadu Chit Fund Act. Direction to Pay Principal Balance Modified to Allow Rule of Appropriation, Payment Made Subject to Outcome of Pending Statutory Appeals Under Section 70.

The High Court of Madras, in intra-court writ appeals, dealt with a dispute arising from chit fund transactions governed by the Tamil Nadu Chit Fund A...

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Madras High Court Adjudicated a Commercial Suit for Recovery of Chit Maturity Amount Against a Partnership Firm and Partners. The plaintiff claimed the maturity value based on an acknowledgment of liability and promissory estoppel, while the defendants raised a prior suit for injunction and accounts.

The plaintiff, a construction company, filed a commercial suit against a partnership firm (first defendant) and its partners (defendants 2 to 6) for r...

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Complainant not required to prove service obtained for self-employment livelihood unless appellant proves commercial purpose.

Consumer Protection - Maintainability of Complaint - Definition of Consumer - Service obtained for Commercial Purpose - Onus of Proof - Burden of Proo...

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Karnataka High Court Upholds Conviction of Accused in Prize Chit Scheme Case — Failure to Repay Subscribers Constitutes Criminal Breach of Trust. Prize Chit Activity Without Registration Under Prize Chits and Money Circulation Schemes (Banning) Act, 1978 Attracts Penalty Under Section 406 IPC.

The case pertains to a criminal revision petition filed by Sri Ravindra (since deceased) and Smt. Devamani challenging their conviction under Section ...

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Supreme Court Dismisses Chit Fund Foreman's Appeal for Recovery of Future Installments. Holds that chit subscriber's liability for future installments is a contractual obligation, not a debt in praesenti, under Chit Funds Act, 1982.

The present appeal arose from a chit fund conducted by M/s Oriental Kuries Ltd. (appellant) from 1978 to 1990. The respondents were subscribers who de...

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High Court of Karnataka Dismisses Chit Company's Writ Petitions Challenging Arbitration Awards Under Section 34 of Arbitration and Conciliation Act, 1996 — Maintainability of Writ Petitions Against Arbitral Awards Under Section 34 of the Act

The petitioner, M/s Shriram Chits (K) Private Ltd, a chit company, filed multiple writ petitions under Article 226 of the Constitution before the High...