Bar to winding up proceedings
Section 50 of the Chit Funds Act, 1982 deals with bar to winding up proceedings. Notwithstanding anything contained in sections 48 and 49, no petition for the winding up of a chit shall be entertained by the Registrar,-- (a) if proceedings relating to insolvency are pending against the foreman; The Act came into force on 02 Apr 1984.
Notwithstanding anything contained in sections 48 and 49, no petition for the winding up of a chit shall be entertained by the Registrar,--
(a) if proceedings relating to insolvency are pending against the foreman; or
(b) where the foreman is a firm, if proceedings relating to insolvency are pending against all the partners or all the partners except one thereof, or proceedings for the dissolution of the firm are pending; or
(c) where the foreman is a company or co-operative society, if proceedings for the winding up of such company or co-operative society are pending.
Section 50, The Chit Funds Act, 1982 (Act 40 of 1982).
Cross-references
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This section refers to
Questions about Section 50
What does Section 50 of the Chit Funds Act deal with?
Section 50 of the Chit Funds Act is headed "Bar to winding up proceedings". Notwithstanding anything contained in sections 48 and 49, no petition for the winding up of a chit shall be entertained by the Registrar,-- (a) if proceedings relating to insolvency are pending against the foreman;
How do I find court cases under Section 50 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 50, section 50 Chit Funds Act 1982, section 50 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 50 of the Chit Funds Act, and has it changed?
Its own text turns on section 48 (Circumstances under which chits may be wound up), section 49 (Application for winding up), so none of them can safely be read on its own.
When did Section 50 of the Chit Funds Act come into force?
Section 50 of the Chit Funds Act, cited as Chit Funds Act 1982 50, 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.