Section 21(3) in Andhra Pradesh Chit Funds Act, 1971
(3)All arrears of subscriptions realised from the substituted subscribers, less any amount advanced by the foreman, shall before the date of the next succeeding installment, be deposited by the foreman in an approved bank mentioned in the chit agreement. The foreman shall not withdraw the amount so deposited except for payment to the defaulting subscriber.Explanation. - For the purpose of sub-section (3), "arrears" of sub-scriptions shall mean all the previous installments realised from the substituted subscriber.
