Search Results for "chit fund"

30 result(s) found

Scroll Down To Discover

Found 30 result(s)

© Image Copyrights Juris Services & Technology

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 ...

© Image Copyrights Juris Services & Technology

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...

© Image Copyrights Juris Services & Technology

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...

© Image Copyrights Juris Services & Technology

Supreme Court Dismisses Appeal Against SEBI Order Declaring Art Funds as Collective Investment Schemes. Trusts managing pooled investments in art works held to be Collective Investment Schemes under SEBI Act, 1992, despite being structured as trusts rather than companies.

The Supreme Court dismissed Civil Appeal No. 19936 of 2017 challenging the order of the Securities Appellate Tribunal which had upheld SEBI's directio...

© Image Copyrights Juris Services & Technology

Madras High Court Dismisses Revision Petition Challenging Execution of Chit Fund Award — Limitation Period Under Section 71(b) of Chit Funds Act, 1982 Not Applicable When Award Is Executed as Civil Court Decree Under Section 71(a).

The revision petition was filed by P.J. Prabaharan, the chit subscriber and first judgment debtor, challenging the order dated 24.09.2025 in E.P.No.46...

© Image Copyrights Juris Services & Technology

Rejection of Revision Applications in a Cheating and Prize Chits Case. Convictions under IPC Section 420 and Prize Chits Act upheld; benefit of Probation of Offenders Act denied.

Charges under IPC Section 420 (Cheating) and Section 4 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978, both the trial and appell...

© Image Copyrights Juris Services & Technology

High Court of Karnataka Allows Appeal Against Execution Court Order Dismissing Application to Set Aside Auction Sale for Non-Compliance with Order XXI Rule 84 CPC. Failure to Deposit 25% of Purchase Money on the Same Day as Sale Renders Auction Void.

The appellants, who were judgment debtors in execution proceedings, filed an application under Order XXI Rule 90 read with Section 151 CPC to set asid...