- The application for release of security shall contain a declaration in the form of an affidavit, duly signed by the foreman and attested by a Notary Public, stating -(i)that the claims of all the subscribers have been fully satisfied and nothing is due to them from the company;(ii)the company shall be held responsible for any complaint or claim put forth by any subscriber of the chit group in future; and(iii)that all dues payable by the foreman under the Act and these rules, to the Registrar or any other officer have been fully paid.
