Sunday, July 31, 2011

Main objects chit fund

Chit Fund

1. To carry on the business of conducting chits (auction and other chits) daily, weekly, by-weekly, monthly, quarterly and are such intervals as the company may decide from time to tome, subject to Prize Chits and Money Circulation Schemes (Banning) Act, 1978.

2. To lend money either with or without security upon such terms and conditions as the company may think fit to the subscribers of the chits and to guarantee the performance of the contract by any such person, subject to Prize Chits and Money Circulation Schemes (Banning) Act 1978
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