Registered with ROC | Security Deposit Protected
Official registration details with Registrar of Companies
Reg No: U65992TN2019PTC133154
Registered under Companies Act 2013
15th March 2009
No:473, Seenivasa valagam,
Kovilpatti, Marungapuri,
Tiruchirappalli-621305
Registrar of Companies,
Chennai, Tamil Nadu
Active & Compliant
Our ROC registration certificate is displayed at all branch offices. Members can verify our registration status anytime.
View Certificate at BranchHow your deposits are protected
Security deposit is a mandatory amount that chit fund companies must maintain with the government as per Tamil Nadu Chit Funds Rules. This deposit acts as a safeguard for members' interests and ensures the company's financial stability.
The security deposit protects members in case of any financial issues with the company. It ensures that members' interests are safeguarded.
As per Tamil Nadu Chit Funds Rules, companies must maintain security deposits. This is a legal requirement, not optional.
Security deposits are kept in designated government-approved accounts and cannot be used for company operations.
Security deposit requirements as per Tamil Nadu Chit Funds Rules
| Chit Amount | Security Deposit Required | Percentage |
|---|---|---|
| Up to ₹50,000 | ₹5,000 | 10% |
| ₹50,001 - ₹1,00,000 | ₹7,500 | 7.5% |
| ₹1,00,001 - ₹2,00,000 | ₹15,000 | 7.5% |
| ₹2,00,001 - ₹5,00,000 | ₹30,000 | 6% |
| Above ₹5,00,000 | As per government rules | 5% |
Note: Security deposit amounts are calculated based on the total chit amount and maintained separately for each chit group. These deposits are held in government-approved accounts and cannot be withdrawn without proper authorization.
How security deposits are managed and protected
Security deposits are maintained in designated accounts with scheduled banks as approved by the Registrar of Chit Funds. These accounts are separate from operational accounts.
The Registrar of Chit Funds regularly monitors security deposits. Companies must submit periodic reports showing deposit status and any changes.
Security deposits can only be withdrawn with prior approval from the Registrar. This ensures deposits remain protected for member interests.
Regular audits ensure transparency and compliance
As per Tamil Nadu Chit Funds Act, we conduct annual audits by certified chartered accountants. Audit reports are submitted to the Registrar and are available for member inspection.
The Registrar of Chit Funds conducts periodic inspections of our operations, books of accounts, and security deposits. All inspections are documented and compliant.
Members have the right to inspect our books of accounts, security deposit certificates, and audit reports. You can request inspection at any branch during business hours.
Your rights and protections as a member
Verify our registration and compliance status
You can verify our registration on the official Ministry of Corporate Affairs website. Our registration number is Reg No: U65992TN2019PTC133154.
Visit ROC WebsiteNeed Help? Our branch staff can assist you in verifying our registration. You can also call us at +91 80727 85196 for any verification queries.
Join a government-registered and fully compliant chit fund company.