Section 68(4) in The Maharashtra Specified Co-operative Societies Elections to Committees Rules, 1971
(4)Subject to the provisions of sub-rule (3), the deposit shall be forfeited to the State Government, if at an election where a poll has been taken, the candidate is not elected and the number of valid votes polled by him does not exceed one eight of the total number of valid votes polled by all the candidates, "or, in the case of election of more than one member at the election, one-eighth of the total number of valid votes so polled divided by the number of members to be elected."
