Bare ActsKerala Chitties Act, 1975

Section 39

Preference of subscribers over chitty assets.--

Amendment status not verified — confirm the current text below against the official source.

Where there are debts due from the foreman of a chitty in relation thereto and also other debts due from such foreman, the chitty assets shall be a first charge for payment of the chitty debts due to the subscribers.

Section 39 – Kerala Chitties Act, 1975 | DailyLaw.ai