law: Chit Funds Act, 1982
  5.Prohibition
  
  of invitation for subscriptions except under certain conditions.-
  No
  
  person shall issue or cause to be issued any notice, circular, prospectus,
  
  proposal or other document inviting the public to subscribe for tickets in any
  
  chit unless such notice, circular, prospectus, proposal or document contains a
  
  statement that the previous sanction required under section 4 has been obtained
  
  and the particulars of such sanction.