Date, time and place of conducting chits
Section 16 of the Chit Funds Act, 1982 deals with date, time and place of conducting chits. Every draw in a chit shall be held on the date, at the time and place mentioned in the chit agreement and a notice therefor in such form and in such manner as may be prescribed shall be issued by the foreman to all the subscribers [present in person or through video conferencing duly recorded by the The Act came into force on 02 Apr 1984.
(1) Every draw in a chit shall be held on the date, at the time and place mentioned in the chit agreement and a notice therefor in such form and in such manner as may be prescribed shall be issued by the foreman to all the subscribers 1[present in person or through video conferencing duly recorded by the foreman.]
(2) Every such draw shall be conducted in accordance with the provisions of the chit agreement and in the presence of not less than two subscribers.
(3) Where any draw was not conducted on the ground that two subscribers required to be present at a draw under sub-section (2) were not present or on any other ground, the Registrar may, on his own motion or on an application made by the foreman or any of the subscribers, direct that the draw shall be conducted in his presence or in the presence of any person deputed by him.
Section 16, The Chit Funds Act, 1982 (Act 40 of 1982).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Referred to by 1
Made under this section, and citing it
1 instrument names this provision in its title or its text without being made under it.
Questions about Section 16
What does Section 16 of the Chit Funds Act deal with?
Section 16 of the Chit Funds Act is headed "Date, time and place of conducting chits". Every draw in a chit shall be held on the date, at the time and place mentioned in the chit agreement and a notice therefor in such form and in such manner as may be prescribed shall be issued by the foreman to all the subscribers [present in person or through video conferencing duly recorded by the
How do I find court cases under Section 16 of the Chit Funds Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Chit Funds Act 1982 16, section 16 Chit Funds Act 1982, section 16 of the Chit Funds Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 16 of the Chit Funds Act, and has it changed?
1 other provision in this corpus refers back to it. One instrument names it without being made under it, most recently The Tamil Nadu Chit Funds Rules, 1984 (1984).
When did Section 16 of the Chit Funds Act come into force?
Section 16 of the Chit Funds Act, cited as Chit Funds Act 1982 16, came into force on 02 Apr 1984, having been enacted on 19 Aug 1982. It is in force as at the date shown on this page.
Other sections of this Act
- 2. Definitions795 words
- 6. Form of chit agreement577 words
- 22. Duties of foreman483 words
- 89. Power to make rules471 words
- 20. Security to be given by foreman428 words
- 67. Procedure for settlement of disputes and powers of Registrar or nominee419 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 17 Oct 2026. This page is not a substitute for legal advice.