56. Penalties.- (1) Whoever contravenes or abets the contravention of any of the provisions of section 3,4 and 7 shall be punishable with imprisonment for a term which may extend to one year or with fine which may extend to five hundred 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 section11, sub-section (2) of section 20, sub-section (2) of section 21, section 29 or section 32 within the period specified for such filing or within the further time allowed under section 55 for such filing ; or (b) Who contravenes any of the provisions of section 8 sub-sections (1) and (6) of section 12, section 14, section 15, section 16, section 20, section 21, section22, section23, sub-section (4) of section 2, section29, section 35 section 36, section 37 and sub-section (4) of section 51;or (c) Who fails to comply with the requirement 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 one 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 it to be false, punishable with imprisonment for a term which may extend to one year or with fine may extend to five hundred rupees. | 
