Section 20(1) in The Maharashtra Chit Funds Rules, 1976
(1)(a)The Registrar may, for the purpose of releasing the security under sub-section (4) of section 13. call upon the Foreman to produce a copy duly certified to be a copy, of any register and book of account maintained by the Foreman, and shall exhibit a notice on his office notice board stating that the security is proposed to be released and that any person objecting to such release may file with the Registrar his statement of objections, if any, within fifteen days from the date of exhibition of the notice.(b)If no objections are received within the period specified in the notice, the Registrar shall release the security.
