Chit Funds Act, 1982 Archives

Supreme Court clarifies obligations in Chit Funds: Is it a debt or contractual promise? Oriental Kuries Ltd. vs. Lissa & Ors. (2019)

November 6, 2019 / Chit Funds Act, 1982, Chit Funds Act, 1982 with Section 31, Chit Funds Act, 1982 with Section 32, Chit Funds Act, 1982 with Section 33, Contract Law, Contractual Obligations, Debt, Indu Malhotra, Judges, Sanjiv Khanna

Supreme Court Clarifies Chit Fund Obligations: Debt in Praesenti or Contractual Promise? (2019) LEGAL ISSUE: Determining the nature of the relationship between a chit fund entity and its subscribers, specifically whether the obligation to pay future installments is a debt in praesenti or a contractual promise. CASE TYPE: Civil Appeal (Chit Funds) Case Name: M/s […]

Supreme Court clarifies obligations in Chit Funds: Is it a debt or contractual promise? Oriental Kuries Ltd. vs. Lissa & Ors. (2019) Read Post »

Supreme Court clarifies Service Tax on Chit Funds: Union of India vs. Margadarshi Chit Funds (2017)

LEGAL ISSUE: Whether chit fund activities are subject to service tax under the category of ‘banking and other financial services’. CASE TYPE: Service Tax Law Case Name: Union of India & Ors. vs. M/s. Margadarshi Chit Funds (P) Ltd. ETC. [Judgment Date]: July 4, 2017 Introduction Date of the Judgment: July 4, 2017 Citation: [Not