Section 13(3)(iii) in The Maharashtra Chit Funds Act, 1974

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State of Maharashtra - Subsection

Section 13(3)(iii) in The Maharashtra Chit Funds Act, 1974

(iii)where owing to the default of a prized subscriber, the prize amount due remains unpaid even after the termination of a chit, until the Foreman deposits the prize amount in an approved bank mentioned in the chit agreement and intimates in writing the fact of such deposit to the prized subscriber.

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State of Maharashtra - Subsection

Section 13(3)(iii) in The Maharashtra Chit Funds Act, 1974