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Legal Article

Chit Funds, Ponzi Schemes and Banning of Unregulated Deposit Schemes in West Bengal and Kolkata

Introduction: Meaning: Chit Fund is an important topic to be discussed here. A chit fund is a type of system which is practised around the country in India. These schemes are organised by companies or financial institutions or among relatives or friends or neighbours. Chit Funds Act, 1982 defines the Following Provisions: Section 2 of […]