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Section 18

The Uttar Pradesh Chit Fund Act, 1975State Act of Uttarakhand · Act 53 of 1975

(1) Every foreman shall prepare and file with the Registrar in such manner and within such time as may be prescribed, a balance­sheet relating to the period of account duly audited either by auditors duly qualified to act as auditors of companies under the Companies Act, 1956 or by a Chit Auditor appointed under sub-section (3) of section 53·

(2) The balance sheet referred to in sub-section (1) shall:­

(a) contain a summary of the assets and liabilities of all chits conducted by him;

(b) give such particulars as will disclose the nature of the said assets and liabilities and how the value of those assets has been arrived at; and

(c) such other particulars as may be prescribed .

Liability of a foreman to the subscribes

Where this provision sits

ActThe Uttar Pradesh Chit Fund Act, 1975
Section18
JurisdictionState of Uttarakhand
StatusIn force as published by the source

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