Section 160(3) in The Maharashtra Co-Operative Societies Act, 1960
(3)If the retiring Chairman to whom a direction has been issued as aforesaid does not comply with such direction, he shall on conviction be punished with simple imprisonment which may extend to one month or with fine which may extend to [five thousand rupees] [These words were substituted for the words 'five hundred rupees' by Maharashtra Act No. 16 of 2013 dated 13-8-2013, Section 79, (w.e.f. 14-2-2013).] or with both; and the Registrar may, on the retiring Chairman's failure to comply with such direction, take order for seizing the records and property ana handing it over to the new Chairman, in the manner provided in section 80.
