Section 50: Bar to winding up proceedings.

The Chit Funds Act, 1982Central Act · Act 40 of 1982

Notwithstanding anything contained in sections 48 and 49, no petition for the winding up of a chit shall be entertained by the Registrar,--

(a) if proceedings relating to insolvency are pending against the foreman; or

(b) where the foreman is a firm, if proceedings relating to insolvency are pending against all the partners or all the partners except one thereof, or proceedings for the dissolution of the firm are pending; or

(c) where the foreman is a company or co-operative society, if proceedings for the winding up of such company or co-operative society are pending.

Where this provision sits

Act	The Chit Funds Act, 1982
Section	50
Marginal note	Bar to winding up proceedings.
Jurisdiction	Central
Status	In force as published by the source

Find the provision, not just read it

The full text above is free, and it stays free. What a free CourtMesh account adds is everything you cannot do by reading one page at a time:

Search 49,000+ Central and State enactments by what a provision says, not by its number
Jump from any section to every judgment that has applied it
Search 300 million+ Indian court records alongside the statute
Ask a research agent to find and read the case law on a provision for you

Free account. No card. About a minute to create.

Create a free account

Need this as data, not as a page? The Chit Funds Act, 1982 is one of 49,000+ enactments on CourtMesh. The Indian court cases API serves the case law that cites these provisions over JSON, with API documentation and plans and pricing. See also the judgment library.