(j) the name of the licensed bank from which the foremen are deposited by the foreman in accordance with applicable law; ….. (1) the Central Means Act would not have been there in 1982. In other words, Section 90 (1) of the Central Chit Funds Act, 1982 is indicated out of caution. thus, after 19.08.1982, the kerala chitties act, 1975 was cancelled, with the exception of the limited purposes of Section 6 of the General Act of Clauses. Similarly, the other six existing government laws on chits, within the meaning of Section 90 of the chit funds act, 1982, the 19 …. fundamental principles of the law that there is no distinction or difference between an express provision and a provision that is necessarily implied, because it is only the form that distinguishes in both cases and there is no difference in intent or substance. Repeal can be by repugnant legislation, without even referring to ….. cereals to which an estimated subscriber is waived under the agreement and which, as part of this agreement, are intended to cover the costs of operating chit or distributing it between subscribers or for both; Section 4 – Prohibition of chits that are not sanctioned or registered by law (1) no Chit without the prior sanction of ….. To the extent that the state government may authorize the duration of a chit up to a period of ten years, if it is satisfied that this is necessary given the wire, – (2), the duration of a chit may not exceed five years from the date of its launch; ….: is-respondent-m/s.margadarshi chits (kar) pvt. Ltd., is a chit company registered under the chit funds act, 1982 (short for short). the second respondent was a subscriber. he drew the chit amount on the duty of convenience of the petitioners and the respondents 3 to 6.
the subscriber refused in payment of the subscription, in accordance with the terms of the chit agreement to recover the fees that ….. Cancellation of all other debts.5. Given the rival disputes, the points that appear on the exam are:1. if the certificate issued under Section 71 (l) (a) of the chits act of 1982 by the Registrar of Chits can be executed in the civil court? 2. if the holder of the decree can act simultaneously against the principal debtor and guarantees for the realization of the price ….. I lost. the borrower has incurred in the event of a late payment. The invitation communication, which recalled the loan and asked the borrowing company to pay the outstanding loans, was issued. In accordance with Section 40 of the irbi Act, an application for seizure and sale of the assets of the loan company was filed, in which the respondent did not participate in the notification.