50. Compensation for frivolous or vexatious application.
(1)Where an application presented for winding up a chit is dismissed and the prescribed authority or court is satisfied that the application is frivolous or vexatious, the prescribed authority or court may award against the applicant such amount, not exceeding five hundred rupees, as it considers to be reasonable compensation to the foreman for the expense or injury caused to him by the application and the proceedings thereon, and such amount may be realised as if the award were a decree.(2)The award of compensation under sub-section (1) shall bar any separate suit for compensation.
