The document provides information on the registration process for starting a chit fund in India. It outlines the key steps which include obtaining certificates of incorporation from the Registrar of Companies, applying for registration of the chit fund's bye-laws with supporting documents, undergoing an inspection of the registered office, getting approval of the bye-laws, and receiving the certificate of registration. Various documents required at each stage include personal documents of directors, registered office documents, incorporation certificates, form filings, bank certificates, affidavits, and proof of ownership or rental agreements for the office premises.

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CHIT FUNDCHIT FUND
REGISTRATIONREGISTRATION
COMPLETECOMPLETE
INFORMATIONINFORMATION

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REGISTRATION PROCESS
The registration will not be given to:
1.Any individual or entity convicted of any offence
under the Chit Fund Act or under any other Act
regulating the business and sentenced to
imprisonment for any such offence
2. Any individual or entity who had defaulted in
payment of the fees or the filing of any statement
or the record required to be paid or filed under this
Act or had previously violated any of the
provisions of this Act or the rules made thereunder

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DOCUMENTS REQUIRED TO
REGISTER CHIT FUND
1. Personal documents of the director
• PAN Card details
• ID proof (Voter ID card, passport,
Aadhar card, driving license)
• Address proof (Latest bank statement,
electricity bill, mobile bill, telephone bill)
• Passport size photograph

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DOCUMENTS REQUIRED TO
START CHIT FUND
Registered office documents
•Latest electricity bill
•Rental agreement (in case the premises is
rented) and an NOC from the landlord
•Sale deed (in case the property is owned)

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REGISTRATION PROCEDURE
STEPS
1) First obtain a certificate of incorporation from
the Registrar of Companies of respective region.
(A) Requirements for registration of New Company
with Registrar of Chit Fund
After getting this certificate, you can apply for
registration of first Bye-laws of the company
with Chit Fund Department.

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REGISTRATION PROCEDURE
STEPS
Documents Required:
•Memorandum and Articles of Association.
•Incorporation Certificate.
•Form No. 2 regarding shares allotment.
•Form No. 18 regarding registered office.

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3 THINGS TO KEEP IN
MIND
• Form No. 32 regarding appointment of
Directors.
• R.O.C. Receipt for filing of form No. 2, 18,
32.
• Bank certificate for deposit of Rs.
1,00,000/- as paid-up capital.
• Resolution for appointment of foreman of
the company.

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Affidavits of the Directors
regarding:-
1. Age, good health and sound mind.
2. Insolvency.
3. Non-conviction.
4. Membership/Directorship in other chit
fund company.

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REGISTRATION PROCEDURE
STEPS
• Proof of ownership of the office premises.
• No objection certificate from the landlord.
• Rent Receipt of premises.
• Lay out plan of premises.
• Photo-copies of Ration Cards of the Directors.

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Documents to be submitted at
the time of approval of Bye-
laws
• Form CF-1.
• Bye-laws (in duplicate).
• Form regarding details of company's
business and deposit of fee.

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Documents to be submitted at
the time of approval of Bye-
laws
•Certificate of Registration in Form CF-II (in
duplicate).
•Bye-laws fee amounting to Rs. 50/- for each Bye-
law to be deposited in cash with the Cashier.
•Residential proof of Directors/Foreman in the
shape of ration card, election I-Card, or passport.

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INSPECTION OF CHIT FUND
OFFICE
After all the prescribed requirements are fulfilled,
spot inspection of the proposed registered office of
the company will be made by the Chit Fund
Department through an Inspecting Officer.
For this purpose, the registered office should be:-
•Having at least 150 square feet of office area.
•Well furnished to conduct chit fund business.
•Having an Auction Hall.
•A sign board displayed on the front side of the
premises.

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FRAMING BYELAWS
On receipt of application, the Registrar shall
examine the application and Bye-laws in order to
satisfy himself that the bye-laws are:
1.in conformity with the Act and Rules.
2. suitable for carrying out the object of the chit.
3. suitable for carrying safe and fair conduct of
the business And shall grant a certificate of
registration in Form CF-II.

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AMENDEMENT OF BYE
LAWS
After the Bye-laws have been registered, the chit
fund company can apply for the amendment of
these bye-laws, if necessary.
Documents required for amendment of
Bye-laws:
•Application along with a Court fee stamp.
•Approved Bye-laws (in original).
•Proposed Bye-laws (in duplicate).

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AMENDEMENT OF BYE
LAWS
• When the proposed amendments in Bye-laws are
approved, one copy of Bye-Laws duly endorsed
for registration of amendment will be issued to
the company.
• No application for amendment of Bye-laws will
be entertained, if the chit group of such Bye-
laws has commenced.

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REGISTRATION
COMPLETED
• After the Registrar, Chit Funds is satisfied that
all the requirements are fulfilled, a certificate for
registration of first Bye-laws will be issued to
the company.
• The Certificate of registration or the attested
copy thereof shall be displayed prominently at
every place of chit business.

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CHIT FUND ONLINE
REGISTRATION LINKS
•All over India registration Links
http://www.mca.gov.in/
•Tamil Nadu Registration Link
http://www.tnreginet.net/igr/webAppln/chits_Document.asp
•Karnataka Registration Link
http://www.sahakara.kar.gov.in/chitfund.html

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