Section 45 in The Maharashtra Chit Funds Rules, 1976
45. Period of retention of records.
- The records of a chit including registers and books of account shall be preserved in the office of the Registrar for twelve years (a) from the date of release of security in the case of chits which are terminated, and (b) from the date when the affairs of the chit are completely wound up in the cases dealt with in Chapter X of the Act and if orders passed under that Chapter are appealable, from the date of disposal of such appeal.
