Prized subscriber to pay subscriptions regularly
Section 32 of the Chit Funds Act, 1982 deals with prized subscriber to pay subscriptions regularly. Every prized subscriber shall pay his subscriptions regularly on the dates and times and at the place mentioned in the chit agreement and, on his failure to do so, he shall be liable to make a consolidated payment of all the future subscriptions forthwith. The Act came into force on 02 Apr 1984.
Every prized subscriber shall pay his subscriptions regularly on the dates and times and at the place mentioned in the chit agreement and, on his failure to do so, he shall be liable to make a consolidated payment of all the future subscriptions forthwith.
Section 32, 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
Related judgements & precedents
These are some judgments that construed this section, and hold precedence value. They hold authority on how to read, interpret and use this section.
-
Oriental Kuries Ltd. v. Lissa
Court's Decision & Legal Precedent
Judgment order-14.pdf 2019-11-06 DATE VERIFIED (get_order_ai_analysis). Reportable SC (Indu Malhotra, Sanjiv Khanna JJ.): chit subscriber incurs a debt on the day of subscription; on default the foreman may recover consolidated future subscriptions in a lump sum under Chit Funds Act s.32 — not a penalty; Kerala DB reversed. Prefer order-14.pdf (merits Judgment) over order-13.pdf (ROP placing reportable on file). Map Chit Funds 32, 33.
On this section: Chit Funds Act s.32 prized subscriber to pay subscriptions regularly: SC holds debt arises on subscription day; on default foreman may recover consolidated future subscriptions in lump sum (Oriental Kuries).
The holding above is the ratio decidendi as extracted from the judgment by eCourts India, reproduced unaltered — it is a rendering of the court's reasoning, not a substitute for its words. Read the order itself before relying on it.
Questions about Section 32
What have the courts held on Section 32 of the Chit Funds Act?
Oriental Kuries Ltd. v. Lissa (06 Nov 2019) is the leading judgment on this section among those set out below: Chit Funds Act s.32 prized subscriber to pay subscriptions regularly: SC holds debt arises on subscription day; on default foreman may recover consolidated future subscriptions in lump sum (Oriental Kuries).
How do I find court cases under Section 32 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 32, section 32 Chit Funds Act 1982, section 32 of the Chit Funds Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome. 1 reported judgment on this section is set out on this page, beginning with Oriental Kuries Ltd. v. Lissa (06 Nov 2019).
What should I read with Section 32 of the Chit Funds Act, and has it changed?
1 other provision in this corpus refers back to it.
When did Section 32 of the Chit Funds Act come into force?
Section 32 of the Chit Funds Act, cited as Chit Funds Act 1982 32, 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 16 Oct 2026. This page is not a substitute for legal advice.