Section 15(2) in The Maharashtra Chit Funds Act, 1974
(2)If owing to the default of a prized subscriber, the prize amount due in respect of any draw remains unpaid, the Foreman shall deposit the same forthwith in an approved bank mentioned in the chit agreement and intimate in writing the fact of such deposit to the prized subscriber. The amount so deposited shall not be withdrawn for any purpose other than disbursement of prize amount to the prized subscriber.
