Prize Chits and Money Circulation Schemes (Banning) Act, 1978

The appellant, Amandeep Singh Saran, was charged with offences including IPC Section 409, which carries a maximum sentence of life imprisonment or up to ten years, and was being tried before the Chief Judicial Magistrate (CJM) of Raipur, a court that can impose at most seven years imprisonment. Having already spent ove…

The petitioner, Ravinder Singh Sidhu, faced 64 FIRs across ten states arising from alleged financial fraud. He filed a writ petition under Article 32 seeking the clubbing and transfer of all FIRs to a single jurisdiction, later modifying the prayer to consolidation within each state. The Supreme Court examined whether …

The appellant, a former director of R.P.S. Benefit Fund Ltd., filed a petition under Section 482 of the CrPC to quash criminal proceedings initiated under Section 420 IPC and Sections 3, 4, 5 and 6 of the Prize, Chits and Money Circulation Schemes (Banning) Act, 1978. The FIR alleged cheating by the company for failing…

The Supreme Court examined petitions seeking to shift investigation of the multi‑state chit‑fund (Ponzi) scam, which defrauded lakhs of depositors of roughly Rs 10,000 crore, from the State Police to the Central Bureau of Investigation (CBI). The scam involved companies operating across West Bengal, Tripura, Assam and …