Form CF-V

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Application to furnish security for conduct of a chit

(See Section 12 and rule 14)

  1. Name and address of the foreman.
  2. Chit reference No.
  3. Chit amount
  4. Number of instalments of the chit.
  5. Whether the foreman is in debt and if so the amount of such debt.
  6. Whether the foreman has conducted any chit before and if so whether there is any subsisting liability under the same.
  7. Whether the subscribers have agreed to the sufficiency of the security.
  8. Security offered.
     
    1. Immovable Property:
      1. Details of properties, offered, as security
      2. Nature of right of the foreman over the property.
      3. Market value of the properties.
      4. Details of prior encumbrance, if any, on the property.
    2. Movable Property:
      1. Details of properties.
      2. Face and market value of such properties.
      3. The authority with whom deposited.
    3. Cash Security:
      1. Amount deposited.
      2. Name of approved bank.
      3. No. and reference of account under which amount has been deposited.
  9. List of documents attached:-
    (1)Two copies of draft Mortgage Bonds executed in favour of the Registrar.
    (2) Title deeds of the property.
    (3)An affidavit to the effect that property is free from any encumbrance if it is so. (in the case of immovable properties only).    
    (4) Bank Pass Book pledging the amount in favour of the Registrar (when cash security is offered).
    (5)Movable property (in original) duly transferred in favour of Registrar (in original) supporting deposit of such security with a bank or other authority approved by the Registrar (when movable property is offered as security.    
    (6)A true copy of the chit agreement with subscribers agreeing to the sufficiency of security.    
     
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