Section 62(2) in Andhra Pradesh Chit Funds Rules, 2008
(2)Notwithstanding anything contained in the said provisions,(i)any officer empowered by the State Government to compound any offence committed or reasonably suspected to have committed any offence under the said Act and rules made thereunder compound the said offence committed by any person, either before or after the institution of the criminal proceedings under the said Act.Provided that a proposal by such officer to compound the offence is approved by an officer authorized by the State Government in this behalf.(ii)On approval of the said proposal by the authorized officer referred to above, the officer empowered to compound the offence shall send an intimation in writing in that behalf to that person specifying therein(a)a sum determined by way of composition not exceeding the amount of fine prescribed for the relative offence;(b)the date on or before which the sum shall be paid.
