9911796707
TMI Blog1999 (11) TMI 792X X X X Extracts X X X X X X X X Extracts X X X X ..... the Chit Funds Act, 1982 ( the Act ) was altered with consent in writing of the foreman and the subscribers to the chit with respect to chit No. 58 of 1997 after making such alteration in the chit agreement. The petitioner, with a view to comply with rule 14 of the Chit Funds Rules, sent an application to register the said alteration, to the respondent Deputy Registrar. The respondent has sought for opinion from the registrar in his proceedings dated 9-6-1997. The District Registrar, Mayiladuthurai, in the proceedings dated 4-11-1997, informing the respondent Deputy Registrar that the request of the petitioner to alter the place of auction is contrary to section 19(1) and (2) of the said Act and so it has to be registered only with the Joi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r, the respondent has relied on section 19 of the said Act. Section 19 of the said Act deals with opening of new place of business and getting approval of the Registrar within whose territorial jurisdiction his registered office is situated. Section 19(4) of the Act defines place of business which includes any branch office, sub-office or any place of business where the chit business may be conducted by such person. Under section 2( e ), chit business has been defined as the business of conducting a chit. So the place at which the chit is to be drawn, cannot be described as a chit place of business, and section 19 of the Act will not stand in the way of the petitioner to request the respondent to register the alteration, as he is not op ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... because the place of draw is not situated within his jurisdiction, he cannot exercise the powers under section 16(3) of the Act. Since the said chit is registered within his jurisdiction, he can exercise all the powers including the power contemplated under section 16(3) of the said Act. Since the petitioner has registered the said chit agreement with the respondent, the petitioner is having an obligation to keep all accounts and other transactions only within the jurisdiction of the respondent so as to enable the respondent to exercise his duties as contemplated under the said Act with respect to the said chit agreements. 6. As stated earlier, I do not find any prohibition under the said Act or the rules prohibiting the petitioner from ..... X X X X Extracts X X X X X X X X Extracts X X X X
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