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: Commencement and effect of winding up order.
The Chit Funds Act, 1982Central Act · Act 40 of 1982
Where this provision sits
| Act | The Chit Funds Act, 1982 |
|---|---|
| Section | 51 |
| Marginal note | Commencement and effect of winding up order. |
| Jurisdiction | Central |
| Status | In force as published by the source |
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