Amendment status not verified — confirm the current text below against the official source.
Penalties.— (1) Whoever contravenes or abets the contravention of any of the provisions of sections 3, 4 and 7 shall be punishable with imprisonment for a term which may extend to two years or with fine which may extend to one thousand rupees or with both. (2) Any foreman— (a) who does not file the chit agreement under section 6 or a copy of any document under section 11, sub-section (2) of section 20, sub-section (2) of section 21, section 30 or section 33 within the period specified for such filing or within the further time allowed under section 56 for such filing; or (b) who contravenes any of the provisions of section 8, sub--section (1) and sub- section (2) of section 12, section 14, section 15, section 16, section 18, section 20, section 21, section 22, section 24, sub-section (4) of section 26, section 30, section 36, section 37, section 38 and sub-section (4) of section 52, or (c) who fails to comply with the requirements of the chit agreement regarding the date, time and place at which the chit is to be drawn; shall be punishable with fine which may extend to two hundred rupees. (3) whoever in any document required by, or for purposes of any of the provisions of this Act wilfully makes a statement false in any material particular knowing to be false, shall be punishable with imprisonment for a term which may extend to two years or with fine which may extend to one thousand rupees or with both.