Section 21(1) in The Maharashtra Chit Funds Act, 1974
(1)A non-prized subscriber who defaults in paying his subscription in accordance with the terms of the chit agreement shall be liable to have his name removed from the list of subscribers. Every such removal shall, with the date thereof, be entered in the relevant book maintained by the Foreman. A written notice of such removal shall be given by the Foreman to the defaulting subscriber within fourteen days of such removal.
