# 54 Vesting of chit assets in Registrar or other persons
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.
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WINDING UP OF CHITS
50
Bar to winding up proceedings51
Commencement and effect of winding up order52
Injunction order53
Powers of Registrar55
Suits, etc., to be stayed on winding up order56
Notification of winding up order57
Cessation of winding up proceedings on insolvency of foreman, etc., or the winding up of the company and transfer of such proceedings
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