Amendment status not verified — confirm the current text below against the official source.
On the making of an order for the winding up of a chit, the entire chit assets shall vest in the prescribed authority or court, as the case may be, for distribution amongst the subscribers to whom amounts are due in respect of the chit and such prescribed authority or court shall appoint a Receiver and pass such other orders in the matter as it deems fit. 76 [The Uttar Pradesh Chit Funds Act, 1975] [Section 47-51] Suits, etc. stayed on winding up orders