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Sri Nanjundeshwara Chits Pvt Ltd (SNCPL), a registered chit fund company incorporated under the companies act ,1956. SNCPL started chit fund business with an intention to bring social control over chit fund business so as to protect the public from being exploited by unregistered/unorganised chit operations. Registered Chit fund companies are primarily regulated by the Central Chit Fund act and also has to comply with the prescribed rules and regulation formulated by the respective state governments.