On the making of an order for the winding up of a chit, all the chit
assets pertaining to such chit shall vest in the Registrar or in any person
appointed by him for distribution amongst the subscribers to whom amounts
are due in respect of the chit.
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