law: Chit Funds Act, 1982
  13.Aggregate
  
  amount of chits.-
  (1)No
  
  foreman, other than a firm or other association of individuals of a company or
  
  co-operative society, shall commence or conduct chits, the aggregate chit
  
  amount of which at any time exceeds twenty-five thousand rupees.
  (2)Where
  
  the foreman is a firm or other association of individuals, the aggregate chit
  
  amount of the chit conducted by the firm or other association shall not at any
  
  time exceed,-
  (a)where the number of partners of the firm or the individuals
  
  constituting the association is not less than four, a sum of rupees one lakh;
  (b)in any other case, a sum calculated on the basis of twenty-five
  
  thousand rupees with respect to each partner or individual.
  (3)Where
  
  the foreman is a company or co-operative society, the aggregate chit amount of
  
  the chits conducted by it shall not at any time exceed ten times the net owned
  
  funds of the company or the co-operative society, as the case may be.
  Explanation.- For the purposes of this sub-section, "net owned funds" shall
  
  mean the aggregate of the paid-up capital and free reserves as disclosed in the
  
  last audited balance sheet of the company or co-operative society, as reduced
  
  by the amount of accumulated balance of loss, deferred revenue, expenditure and
  
  other intangible assets, if any, as disclosed in the said balance sheet.