Section 50 in The Maharashtra Chit Funds Act, 1974
50. Compensation for frivolous or vexatious application.
(1)When an application presented for winding up a chit is dismissed, and the court is satisfied that the application is frivolous or vexatious, the court may award against the applicant such amount, not exceeding five hundred rupees, as it deems reasonable as compensation to the Foreman for the expense or injury occasioned to him by the application and the proceedings thereon and such amount may be realised as if the award were a decree.(2)The award of any amount under sub-section (1) shall bar any suit for compensation in respect of such application.
