https://www.taxtmi.com/caselaws?id=102399 Section 6(3) of the Chit Funds Act, 1982, fixing the ceiling on discount, was treated as valid because the Supreme Court had already upheld the parent Act and had expressly found the ceiling neither arbitrary nor unreasonable. Rules 16, 28(1), 28(2), 31(1) and 31(2) of the Tamil Nadu Chit Funds Rules, 1984, were also upheld because they were held to be consistent with the Act, harmoniously read with related statutory provisions, and confined to permissible regulatory requirements on notice, returns and time-bound filings. The challenges to the constitutional validity of the provision and the delegated rules therefore failed. en-us Wed, 08 Sep 1993 00:00:00 +0530 Tue, 14 Feb 2012 17:33:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102399 Section 6(3) of the Chit Funds Act, 1982, fixing the ceiling on discount, was treated as valid because the Supreme Court had already upheld the parent Act and had expressly found the ceiling neither arbitrary nor unreasonable. Rules 16, 28(1), 28(2), 31(1) and 31(2) of the Tamil Nadu Chit Funds Rules, 1984, were also upheld because they were held to be consistent with the Act, harmoniously read with related statutory provisions, and confined to permissible regulatory requirements on notice, returns and time-bound filings. The challenges to the constitutional validity of the provision and the delegated rules therefore failed. Case-Laws Companies Law Wed, 08 Sep 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102399