Notwithstanding anything contained in sections 39 and 40 no petition for the winding up of a chit shall be entertained by a court if proceedings under the law relating to insolvency for the time being in force are pending against the foreman for adjudicating him an insolvent or when, the foreman is a company if proceedings for winding up the company are pending against such company in a court.
Section 41: Insolvency or liquidation a bar to winding up proceedings
The Goa, Daman & Diu Chit Funds Act, 1973Union territory Act of Dadra and Nagar Haveli and Daman and Diu · Act 16 of 1973
Where this provision sits
| Act | The Goa, Daman & Diu Chit Funds Act, 1973 |
|---|---|
| Section | 41 |
| Marginal note | Insolvency or liquidation a bar to winding up proceedings |
| Jurisdiction | Union territory of Dadra and Nagar Haveli and Daman and Diu |
| Status | In force as published by the source |
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