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State of Madhya Pradesh - Section

Section 63 in The Chit Funds (Madhya Pradesh) Rules, 1984

63. Compounding of offences arising under the Act.

- Any Officer empowered by the State Government shall issue a show-cause notice before taking any action under Section 76 or 77 of the Act against any person who has committed, or reasonably suspected to have committed any offence under the Act, or rules made thereunder asking him to show cause within period of fifteen days, why action under the said Section 76 or as the case may be, under Section 77 of the Act should not be taken against him.
(2)Notwithstanding anything contained in the said provision :
(i)any officer empowered by the State Government to compound the offence committed under the Act or reasonably suspected to have committed any offence under the Act and rules made thereunder may compound the said offence committed by any person, either before or after the institution of the criminal proceedings under the Act;
Provided that the said proposals to compound the offence is accepted by any officer authorised by the State Government.
(ii)on an approval of the said proposal by the officer empowered to approve such a proposal referred to above, the officer empowered to compound the offence shall send an intimation in writing in that behalf to that person specifying therein;
(a)a sum determined by way of composition;
(b)the date on which or before the sum will be paid.
Appendix-1Form I[See clause (c) of Rule 2]Form of letter of authorityI...................(name) who/am/is..................................of M/s........................................ (Designation) being a foreman of the chit series No....................... Registered under registration No.....................hereby appoint Shri................as my authorised representative to attend on my/our behalf in the matters connected with the above chit to produce accounts and documents and to receive on my/our behalf any notice or document issued and to take all necessary steps in the matter.The said Shri................................................. is also hereby authorised to act on my behalf in the said matter.I/we agree to ratify all acts done by the said Shri..............in pursuance of this authority.
Place: Signature
Date: Status
Form II[See Section 4 (2) and Rule 3](Form of application to be used by a foreman for obtaining prior sanction to commence or conduct a chit)Place :Date :From,..................................To,The Secretary to the Government of...................................OR(The Authorised Officer by Designation)Sir,I.........................................son/wife/daughter of.........(here state profession or occupation) residing at.................I/we, the Chairman and Secretary respectively *on behalf of (Name of the firm, company, co-operative society, etc.) situated at/having its registered office at.................desire to commence and conduct a chit as foreman at to (here specify the place with postal address in detail) Full particulars in this regard are given in the Annexure hereto.