Section 51 of Chit Funds Act - Commencement and effect of winding up order

Section 51: Commencement and effect of winding up order - Chit Funds Act 1982

An order for the winding up of a chit shall operate in favour of all the subscribers to whom amounts are due from the foreman and it shall be deemed to have commenced from the date of the presentation of the application for the winding up.
 

Chit Funds Act 1982

Section 51 of Chit Funds Act - Commencement and effect of winding up order

Section 52 of Chit Funds Act - Injunction order

Section 53 of Chit Funds Act - Powers of Registrar

Section 54 of Chit Funds Act - Vesting of chit assets in Registrar or other persons

Section 55 of Chit Funds Act - Suits, etc., to be stayed on winding up order

Section 56 of Chit Funds Act - Notification of winding up order

Section 57 of Chit Funds Act - Cessation of winding up proceedings on insolvency of foreman, etc., or the winding up of the company and transfer of such proceedings

Section 58 of Chit Funds Act - Award of compensation to foreman

Section 59 of Chit Funds Act - Right to appeal

Section 60 of Chit Funds Act - Limitation