FORM I

APPENDIX – FORM I 

 (See Section 4(2) and Rule 3) 

 FORM OF APPLICATION TO BE USED BY A FOREMAN FOR OBTAINING PREVIOUS SANCTION TO COMMENCE OR CONDUCT A CHIT 

 From                                                                                                                                                Place:                                                                                                                                                                         Date: 

 To 

 The Secretary to the Govt. 

 of ________________________________ 

 (The Authorised officer by designation) 

 Sir, 

                     I ________________________Son / Wife / Daughter _________________________(here state profession or occupation) residing at ___________________________. I / We, the Chairman and Secretary respectively* on behalf of (name of the firm,Company, Corporation, Coop-Society etc.) situated at having its registered office at ______________________desire to commence and conduct a chit as foreman at (here specify the place with postal address in detail). Full particulars in this regard are given in the Annexure hereto. 

 2. A certified true copy of the resolution passed by the Managing Committee / Board of Directors at its meeting held on the ______________for commencing and conducting the chit in question is enclosed. 

 3. I / We remit herewith a sum of Rs ___________________(Rupees in words)_____________ only) being the fees prescribed for the purpose. 

 4. I / We hereby certify that the aggregate chit amount of the chits run by me / us is Rs ________ (Rupees ______________only) on the date of this application and does not exceed the aggregate chit amount prescribed by Section 13 of the Chit Funds Act, 1982 (Central Act No. 40 of 1982). 

 5. I / We request you to accord your sanction for commencing and conducting the Chit. On receipt of such sanction further steps for registration etc., of the chit will be taken. 

 6. We further undertake to register the chit within 12 months from the date of sanction by the State Government as per Section 4(1). 

 We have read the provisions of the Chit Fund Act, 1982 (Central Chit Fund Act No. 40 of 1982) and the Rules framed thereunder and agree to abide by the same in the conduct of the chit business. 

 Yours faithfully, 

 Chairman : 

 Secretary : 

 Encl: Sheets 

 for or on behalf of 

 

 -------------------------------------------------------------------------------------------------------------------------------- 

 Strike out or delete whatever is not applicable. 

 * Insert the designation as may be appropriate to the applicant. @ Here enter the name of the applicant institution, if any. 

 -------- 

 ANNEXURE 

 STATEMENT OF PARTICULARS 

 1. Name and address of the company 

 association of individuals / coop. 

 Society, partnership 

 / sole proprietorship (address of the 

 registered as well as the Head Office 

 / administrative office, if any, should 

 be given). 

 2. Constitution i.e., whether 

 incorporated as company / co-op. 

 Society or registered / un- registered 

 association of 

 individuals / partnership / sole proprietorship 

 (also specify the provision of the Act 

 under which incorporated / 

 registered along with the date of 

 incorporation / registration. 

 3. Name and addresses of the branches 

 / Offices if any. 

 4. Main objects of the institution 

 (enclose a copy of the memorandum 

 and Articles of Association or as the 

 case may be of the Byelaws or rules 

 regulating the activities of the 

 institution). 

 5. Names, occupations and residential 

 address of the directors or as the 

 case may be, of the promoters / 

 members of the committee of 

 management / partners etc. 

 6. Name and residential address of the 

 Chief Executive Officer and two other 

 officers immediately next to him, in 

 the managerial setup. 

 7. Names of the Bankers and their 

 addresses. 

 8. Names of the auditors and their 

 addresses. 

 9. Particulars of the chit(s) to be started 

 (such as the chit amounts, duration 

 of the chit, frequency of the draws, 

 manner of draws, etc, also attach a 

 copy of the draft of the chit 

 agreement to be entered into with 

 the subscribers). 

 10. Places where the chit scheme(s) 

 are proposed to be conducted. 

 11. Names and addresses of the 

 associates companies / 

 cooperative societies / 

 associations of 

 individuals / partnerships / sole 

 proprietorships. 

 12. Names, occupations and residential 

 addresses of the directors or as the 

 case may be of the promoters / 

 members of the committee of 

 management etc of the institutions 

 referred to in item 11 

 I / We* solemnly declare that the facts stated herein as also in the enclosures are true in the best of my / our knowledge, information and belief. 

                                                     Dated this _____day of _____20____ at ______________ 

 

 Name (s)                                                                                                                                                                Signature (s) 

 Designation (s) 

 For and behalf of ___________________________________________________ 

 

 * Here enter the name of the applicant institution, if any, strike out whatever is not Applicable. 

 Note : (1) If the space against any items is inadequate for furnishing full particulars, the required information should be given in separate sheets indicating the cross reference against the relative item of this statement. 

 (2) A copy each of the latest available audited balance sheet and profit and loss account if any, should be attached. 

 .