Section 58(3) in The Maharashtra Chit Funds Act, 1974
(3)Whoever in any document required by, or for the purposes of, any of the provisions of this Act, wilfully makes a statement in any material particulars knowing it to be false, shall, on conviction, be punished with imprisonment for a term which may extend to one year or with fine which shall not be less than five hundred rupees and not more than one thousand rupees or with both.
