An order for the winding up of a chit shall operate in favour of all the subscribers to whom amounts are due from the chit and it shall be deemed to have commenced from the time of the presentation of the application for the winding up.
Section 42: Commencement and effect of winding up order
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 | 42 |
| Marginal note | Commencement and effect of winding up order |
| Jurisdiction | Union territory of Dadra and Nagar Haveli and Daman and Diu |
| Status | In force as published by the source |
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