Section 54
Vesting of chit assets in Registrar or other persons.
About this Act
An Act to provide for the regulation of chit funds and for matters connected therewith.
On the making of an order for the
winding up of a chit, all the chit assets pertaining to such chit shall vest in the Registrar or in any person
appointed by him for distribution amongst the subscribers to whom amounts are due in respect of the chit.