I’ve been running a chit fund business in Jammu for the past three years and am looking for some clarity on the legal requirements. I understand that Jammu has its own set of regulations for such businesses. Could you please tell me what registrations and licenses are needed to operate a chit fund company in Jammu? Thanks in advance!

Apni Law
Apni Law
Law Forum › Category: Corporate › I’ve been running a chit fund business in Jammu for the past three years and am looking for some clarity on the legal requirements. I understand that Jammu has its own set of regulations for such businesses. Could you please tell me what registrations and licenses are needed to operate a chit fund company in Jammu? Thanks in advance!
Vote Up
207
Vote Down
Apni Law Staff asked 9 months ago

I’ve been running a chit fund business in Jammu for the past three years and am looking for some clarity on the legal requirements. I understand that Jammu has its own set of regulations for such businesses. Could you please tell me what registrations and licenses are needed to operate a chit fund company in Jammu? Thanks in advance!

1 Answers
Vote Up
21
Vote Down

Best Answer

Apni Law Staff answered 9 months ago

In Jammu, operating a chit fund business requires registration with the **Jammu and Kashmir Chit Funds Act, 1960**. You must obtain a license from the **Registrar of Chit Funds** and comply with the Act’s provisions regarding operations and financial reporting.

You Might Also Like

We’re launching a new venture with two of us. Any chance either of us could be held responsible for any legal issues the company might face?

Is it possible to combine a performance-based bonus with the regular statutory bonus offered by Indian companies?

What happens to a company’s registrations, like VAT, Service Tax, IEC, and PAN, when it transitions from a private limited company to an LLP in India?

Question 1:How do we determine the share allocation for each founding member when setting up a private limited company in India? Question 2: What’s the minimum amount of capital a private limited company in India needs to maintain in its bank account?

Many online stores in India openly sell items like intimate toys, even though it’s against the law. How do they get away with it? Is it because their companies are based overseas? Or is the law unclear about what’s considered obscene? Or is there something else entirely? I’m just curious how this whole operation works. Is it simply the advertising that’s illegal, or is the entire process from buying to storing these goods also against the law?

Share This Article
Previous Article My wife wants to move out and live separately, refusing to join me abroad. She’s asking for more money now and threatens suicide, blaming me and my parents, if I don’t agree. Her family won’t intervene. My parents are worried, especially as she isolates herself in her locked room with our 7-month-old child. We’re scared, please advise.
Next Article My family owns land next to a mobile tower. I’m worried about the impact on our health. How can I file a case in the National Green Tribunal (NGT)? What are the fees and steps involved?

Follow US

Find US on Social Medias
Popular News
- Advertisement -
- Advertisement -
Ad imageAd image

📢 Stay Connected!

Join our community on Telegram and WhatsApp for instant updates, news, and exclusive offers.