Section 4(2) in The Maharashtra Chit Funds Act, 1974
(2)Subject to the provisions of sub-section (4) of this section, if the Registrar, is satisfied that the proposed chit has complied with the provisions of this Act and the rules, and that its proposed by-laws are not contrary to the provisions of this Act or the rules, he may as soon as possible register the chit and its by-laws, and issue to the Foreman a certificate of registration. Such certificate shall be conclusive evidence that the chit together with by-laws relating thereto is duly registered.
