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.
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 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