(1)The Registrar or any other officer authorized by him in this behalf may inspect the chit books and all records relating to the chit.(2)Every foreman shall be bound to produce the chit books and records before the Registrar or the officer authorised under subsection (1) at such time and place as he may require and shall furnish to him any other information as he may require :Provided that such inspection may be made at the premises of the foreman if he pays in advance such fees as may be prescribed for the inspection :Provided further that if the foreman is a banking company as defined in the Banking Companies Act, 1949, such inspection shall be made only at the premises of the Company and only on a working day and such foreman shall pay such fees as may be prescribed for the inspection.(3)Any officer mentioned in sub-section (1) may impound and retain in his custody for such period as he thinks fit any books of account or other documents produced before him :Provided that such officer shall not -(a)impound any books of account or other documents without recording his reasons for so doing; or(b)retain in his custody any such books or documents for a period exceeding fifteen days excluding days falling on holidays save for adequate and exceptional reasons to be recorded and in the case of an officer other than the Registrar, without obtaining the written approval of Registrar in that behalf.
