Section 22(3) in The Maharashtra Chit Funds Act, 1974
(3)All arrears of subscription realised from a substituted subscriber, less the amount advanced by the Foreman, if any, shall, within seven days from the date of such realisation, be deposited by the Foreman in an approved bank mentioned in the chit agreement. The Foreman shall not withdraw the amount so deposited except for payment to the defaulting subscriber.Explanation. - For the purpose of sub-section (3), "arrears of subscriptions" shall mean all the previous instalments realised from the substituted subscriber.
