Section 13(5) in The Maharashtra Chit Funds Act, 1974
(5)The Registrar may, on the application of any Foreman, instead of releasing the security under sub-section (4), accept the same as security in respect of any other chit or chits conducted by the same Foreman. If the value or amount of the security so accepted is less than the value or amount specified in sub-section (1), the Registrar shall require the Foreman to furnish additional security to make up the deficiency.
