This is determined either by auction or by tender or by such other manner as may be specified in the chit agreement. On occasions, disputes arise between the members and/ or the sponsors of the ...

For instance, the Act mandates that the Chit Agreement has also to be physically signed. What this means is that for every chit, the member has to sign an agreement on a paper. The auction has to ...

The Competition Commission of India (CCI) has given a clean chit to railways and SAIL MoU. The competition watchdog says that JSPL's allegations do not hold ground as it would be incorrect to say ...

In the absence of such evidence, they are bound to pay the prize amount within the stipulated time to the complainant as per the terms of the Chit Agreement. When they failed to do so, it must be ...

A chit fund is a financial instrument that is a combination of savings and borrowings. It has been a part of India’s financial system for more than a century. At its most fundamental level ...

He executed the chit agreement, said Avinash Mohanty, deputy commissioner of police (CCS). Police arrested Jethwani and produced him in court.

Prize chit or a money circulation scheme Importantly, as per the Act, a prize chit or a money circulation scheme banned under the provisions of the Prize Chits and Money Circulation Scheme ...