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!
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Apni Law Staff asked 1 year 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!

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Best Answer

Apni Law Staff answered 1 year 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.

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