The Goa, Daman & Diu Chit Funds Act, 1973Union territory Act of Dadra and Nagar Haveli and Daman and Diu · Act 16 of 1973
(1) Every foreman, shall prepare and file with the Registrar in such manner and within such time as, may be prescribed; a balance sheet relating to the period of account duly audited either by auditors duly qualified to act as auditors of companies under the Companies Act, 1956 (Central Act 1 of 1956) or by a Chit Auditor appointed under sub-section (2) of section 52.
(2) The balance sheet referred to in sub-section (1) shall —
(a) contain a summary of the assets and liabilities of the chit; and
(b) give such particulars as will disclose the nature of the assets and liabilities and how the value of the assets has been arrived at.