Section 58 in The Maharashtra Chit Funds Act, 1974
58. Penalties.
(1)Whoever contravenes or abets the contravention of any of the provisions of section 3, 5 or 8 shall, on conviction, be punished with imprisonment for a term which may extend to two years or with fine which may extend to two thousand rupees or with both :Provided that, in the absence of special and adequate reasons to the contrary to be mentioned in the judgment of the Court, the imprisonment shall not be less than six months and fine shall not be less than one thousand rupees.(2)Any Foreman -(a)who does not file the chit agreement under section 7 or a copy of any document under section 12, sub-section (2) of section 21, sub-section (2) of section 22, section 30, or.section 34 within the period specified for such filing or within the further time allowed under section 57 for such filing; or(b)who contravenes any of the provisions of section 9, or sub-section (1) or (2) of section 13, section 15, section 16, sub-section (1) or (2) of section 17, sub-section (1) of section 2 1. sub-section (1) of section 22, section 23, section 24, section 26, section 30, section 37, section 38 and sub-section (2) of section 39; or(e)who fails to comply with the requirements of the chit agreement regarding the date, time and place at which the chit is to be drawn, shall, on conviction, be punished with fine which shall not. be less than twenty-five rupees and not more than two hundred rupees.(3)Whoever in any document required by, or for the purposes of, any of the provisions of this Act, wilfully makes a statement in any material particulars knowing it to be false, shall, on conviction, be punished with imprisonment for a term which may extend to one year or with fine which shall not be less than five hundred rupees and not more than one thousand rupees or with both.(4)A Foreman who is convicted under sub-section (1) of this section or who is convicted three times under sub-section (2) or (3) of this section shall be debarred from registering further chits with any Registrar for a period of three years.
