MULTI-STATE CO-OPERATIVE SOCIETIES ACT 1984

by Usha Rai · April 26, 2015

THE MULTI-STATE CO-OPERATIVE SOCIETIES ACT,1984

ACT No. 51 OF 1984

18th August, 1984

An Act to consolidate and amend the lawrelating to co-operative societies with objects not confined to one State andserving the interest of members in more than one State

Be it enacted by Parliament in theThirty-fifth Year of the Republicof India as follows: –

CHAPTER I

PRELIMINARY

1.Short title, extent and commencement: (1)This Act may be called the Multi-State Co-operative Societies Act, 1984.

(2) It extends to the Whole of India.

(3) It shall come into force on such date 1as the Central Government may, by notification in the Official Gazette,appoint.

____________________

1. 16-9-1985 – Vide NotificationNo.G.S.R.737 (E), dated 16-9-1985, Gazette of India, Extraordinary, 1985, PartII, Section 3(i)}

2.Application: This Act shall apply to-

(a) all co-operative societies, withobjects not confined to one State, which were incorporated before thecommencement of this Act,

(i) under the Co-operative Societies Act,1912(2 of 1912), or

(ii) under any other law relating toco-operative societies in force in any State or in pursuance of the Multi-unitCo-operative Societies Act, 1942(6 of 1942),

and the registration of which has not beencancelled before such commencement; and

(b) all multi-State co-operative societies.

3.Definitions: In this Act, unless thecontext otherwise requires, –

(a) "board" means the board ofdirectors or the governing body of a multi-State co-operative society bywhatever name called, to which the direction and control of the management ofthe affairs of the society is entrusted;

(b) "bye-laws" means the bye-lawsfor the time being in force which have been duly registered under this Act andincludes amendments thereto which have been duly registered under this Act;

(c)"Central Registrar" means the Central Registrar of Co-operativeSocieties appointed under sub-section (1) of section 4 and includes any officerempowered to exercise the powers of the Central Registrar under sub-section (2)of that section ;

(d) "Chief Executive" means aChief Executive of a multi-State co-operative society appointed under section44;

(e) "co-operative bank " means amulti-State co-operative society which under takes banking business;

(f) "co-operative principles"means the co-operative principles specified in the First Schedule;

(g) "co-operative society" meansa society registered or deemed to be registered under any law relating toco-operative societies for the time being in force in any State;

(h) "co-operative year", inrelation to any multi-State co-operative Society or class of such societies,means the year ending on the 30th day of June and where the accounts of suchsociety or class of such societies are, with the previous sanction of theCentral Registrar, balanced on any other day, the year ending on such day;

(i) "Deposit InsuranceCorporation" means the Deposit Insurance and Credit Guarantee Corporationestablished under section 3 of the Deposit Insurance Corporation Act, 1961(47 of1961);

(j) "member" means a personjoining in the application for the registration of a multi-State co-operativesociety and includes a person admitted to membership after such registration inaccordance with the provisions of this Act, the rules and the bye-laws;

(k) "multi-State co-operativesociety" means a society registered or deemed to be registered under thisAct and includes a national co-operative society;

(l) "multi-State co-operative Societywith limited liability" means a society having the liability of itsmembers limited by its bye-laws to the amount, if any unpaid on the sharesrespectively, held by them or to such amount as they may, respectively, therebyundertake to contribute to the assets of the society, in the event of its beingwound up;

(m) "national co-operativesociety" means a multi-State co-operative society specified in the SecondSchedule;

(n) "notification" means anotification published in the Official Gazette;

(o) "officer" means a president,vice-president, chairman, vice-chairman, managing director, secretary, manager,member of a board, treasurer, liquidator, an administrator appointed undersection 48 and includes any other person empowered under this Act or the rulesor the bye-laws to give directions in regard to the business of a multi-Stateco-operative society;

(p) "prescribed" means prescribedby rules;

(q) "Reserve Bank" means theReserve Bank of Indiaconstituted under the Reserve Bank of India Act, 1934;

(r) "rules" means the rules madeunder this Act.

CHAPTER II

CENTRAL REGISTRAR AND REGISTRATION OFSOCIETIES

4.Central Registrar: (1) The CentralGovernment may appointed a person to be the Central Registrar of co-operativeSocieties and may appoint such other persons as it may think fit to assist theCentral Registrar.

(2) The Central Government may, bynotification direct that any power exercisable by the Central Registrar underthis Act (other than the power of registration of a multi-State co-operativesociety) shall in relation to such society, and such matters as may bespecified in the notification be exercisable also by any other officer of theCentral Government or of a State Government as may be authorised by the CentralGovernment subject to such conditions as may be specified therein:

Provided that no officer of a StateGovernment shall be empowered to exercise such power in relation to a nationalco-operative society:

Provided further that no officer of a StateGovernment below the rank of the Registrar of Co-operative Societies shall beempowered to exercise any power exercisable by the Central Registrar undersection 87.

5.Multi-State co-operative Societies whichmay be registered: (1) No multi-State co-operative society shall be registeredunder this Act, unless the main objects of the Society are to serve theinterests of members in more than one State.

(2) Subject to the provisions ofsub-section (1), a multi-State Co-operative society, which has as its objectsthe promotion of the economic and social betterment of its members through mutualaid in accordance with the co-operative principles or a multi-Stateco-operative society established with the object of facilitating the operationsof other such societies or of co-operative societies or of both may beregistered under this Act.

(3) The word "Limited or itsequivalent in any Indian language shall be suffixed to the name of everymulti-State co-operative society registered under this Act with limitedliability.

6.Application for registration: (1) For thepurpose of registration of a multi-State co-operative society under this Act,an application shall be made to the Central Registrar in such form and withsuch particulars as may be prescribed.

(2) The application shall be signed-

(a) in the case of a multi-Stateco-operative society of which all the members are individuals, by at leastfifty persons from each of the States concerned;

(b) in the case of a multi-Stateco-operative society of which the members are co-operative societies, by dulyauthorised representatives on behalf of at least two such societies as notregistered in the same State; and

(c) in the case of a multi-Stateco-operative society of which another multi-State co-operative society andother co-operative societies are members, by duly authorised representatives ofeach of such societies.

Provided that no less than two of theco-operative societies referred to in clause (b) or clause (c), as the case maybe, shall be such as are not registered in the same State.

(3) The application shall be accompanied byfour copies of the proposed bye-laws of the multi-State co-operative societyand the persons by whom or on whose behalf such application is made shallfurnish such information in regard to the society as the Central Registrar mayrequire.

7.Registration: (1) If the CentralRegistrar is satisfied-

(a) that the application complies with theprovisions of this Act and the rules;

(b) that the proposed multi-Stateco-operative society satisfies the basic criterion that its objects are toserve the interests of members in more than one State;

(d) that the proposed bye-laws are notcontrary to the provisions of this Act and the rules; and

(e) that the proposed multi-Stateco-operative society has reasonable prospects of becoming a viable unit.

he may register the multi-Stateco-operative society and its bye-laws.

(2) Where the Central Registrar refuses toregister a multi-State co-operative society, he shall communicate the order ofrefusal together with the reasons therefor, to such number of the applicantsand in such manner as may be prescribed.

(3) The application for registration shallbe disposed of by the Central Registrar within a period of six months from thedate of receipt thereof by him;

Provided that if the Central Registrar isunable to dispose of the application within the period aforesaid, he shall makea report to the Central Government stating therein the reasons for hisinability to do so, and the Central Government may allow him such furtherperiod or periods as is considered necessary to dispose of such application.

8.Registration certificate: Where amulti-State co-operative society is registered under this Act, the CentralRegistrar shall issue a certificate of registration signed by him, which shallbe conclusive evidence that the society therein mentioned is duly registeredunder this Act, unless it is proved that the registration of the society hasbeen cancelled.

9.Amendment of bye-laws of a multi-StateCo-operative Society: (1) No amendment of any bye-laws of a multi-Stateco-operative society shall be valid, unless such amendment has been registeredunder this Act.

(2) Every proposal for such amendment shallbe forwarded to the Central Registrar and if the Central Registrar is satisfiedthat the proposed amendment-

(a) is not contrary to the provisions ofthis Act or of the rules;

(b) does not conflict with co-operativeprinciples and

he may register the amendment within aperiod of six months from the date of receipt thereof by him:

Provided that if the Central Registrar isunable to register the amendment with the period aforesaid he shall make areport to the Central Government stating therein the reasons for his inabilityto do so, and the Central Government may allow him such further period orperiods as is considered necessary to register the amendment.

(3) The Central Registrar shall forward tothe multi-State Co-operative society a copy of the registered amendmenttogether with a certificate signed by him and such certificate shall beconclusive evidence that the amendment has been duly registered.

(4) Where the Central Registrar refuses toregister an amendment of the bye-laws of a multi-State co-operative society, heshall communicate the order of refusal together with the reasons therefore tothe Chief Executive of the society in the manner prescribed with in seven daysfrom the date of such refusal.

10.When amendment of bye-laws comes intoforce: An amendment of the bye-laws of a multi-State co-operative societyshall, unless it is expressed to come into operation on a particular day, comeinto force on the day on which it is registered.

11.Change of name: (1) A Multi-Stateco-operative society may, be an amendment of its bye-laws, change its name butsuch change shall not affect any right or obligation of the multi-Stateco-operative society or of any of its members or post members, and any legalproceedings which might have been continued or commenced by or against themulti-State co-operative society by its former name may be continued orcommenced by or against its new name.

(2) Where a multi-State co-operativesociety changes its name, the Central Registrar shall enter the new name on theregister of multi-State co-operative societies in place of the former name andshall amend the certificate of registration accordingly.

12.Change of address: Every multi-Stateco-operative society shall have a principal place of business and an addressregistered in the manner prescribed to which all notices and communication maybe sent and any change in the principal place of business of a multi-Stateco-operative society shall be made with the previous approval of the CentralRegistrar.

13.Liability: (1) No multi-Stateco-operative society with unlimited liability shall be registered after thecommencement of this Act:

Provided that where a multi-unitco-operative society with unlimited liability was functioning before thecommencement of this act, such a society shall exercise the option within aperiod of one year from such commencement either to continue to functions assuch or to convert itself into a multi-State co-operative society with limitedliability by following.

(2) Subject to the provisions of this Act,and the rules, a multi-unit co-operative society may, by an amendment of itsbye-laws, change the extent of its liability.

(3) When a multi-unit co-operative societyhas passed a resolution to change the extent of its liability, it shall givenotice thereof in writing to all its members and creditors, and,notwithstanding anything contained in the bye-laws or contract to the contrary,any member or creditor shall, during the period of one month from the date ofservice of the notice upon him, have the option of withdrawing his shares,deposits or loans, as the case may be.

(4) Any Member or creditor who does notexercise his option within the period specified in sub-section (3) shall bedeemed to have assented to the change.

(5) An amendment of a bye-law of amulti-unit co-operative society changing the extent of its liability shall notbe registered or shall not take effect until either-

(a) the assent thereto of all members andcreditors has been obtained; or

(b) all claims of members and creditors whoexercise the option referred to in sub-section (3) within the period specifiedtherein have been met in full or otherwise satisfied.

14.Amalgamation or transfer of assets andliabilities, or division of multi-State co-operative societies: (1) Amulti-State co-operative society may, with the prior consultation of theCentral Registrar and by a resolution passed by a majority of not less thantwo-thirds of the members present and voting at a general meeting of thesociety held for the purposes, –

(a) transfer its assets and liabilities inwhole or in part to any other multi-State co-operative society or co-operativesociety;

(b) divide itself into two or more multi-Stateco-operative societies;

(2) Any two or more multi-Stateco-operative societies may, with the prior consultation of the CentralRegistrar and by a resolution passed by a majority of not less than two-thirdsof the members present and voting at a general meeting of each such society,amalgamate themselves and form a new multi-State co-operative society.

(3) The resolution of a multi-Stateco-operative society under sub-section (1) or sub-section (2) shall contain allparticulars of the transfer or division amalgamation, as the case may be :

Provided that in the case of a co-operativebank, with Central Registrar shall not accord approval to any such resolutionwithout the previous sanction in writing of the Reserve Bank.

(4) When a multi-State co-operative societyhas passed a resolution under sub-section (1) or sub-section (2), it shall givenotice thereof in writing to all the members and creditors and, notwithstandinganything contained in the bye-laws or contract to the contrary, any member orcreditor, shall, during the period of one month of the date of service of thenotice upon him, have the option of withdrawing his shares, deposits or loans,as the case may be.

(5).Any member or creditor who does notexercise his option within the period specified in sub-section (4) shall bedeemed to have assented to the proposals contained in the resolution.

(6) (a) A resolution passed by amulti-State co-operative society under this section shall not take effect untilthe assent thereto of all the member and creditors has been obtained.

(b) The multi-State co-operative societyshall make arrangements for meeting in full or otherwise satisfying all claimsof the members and creditors who exercise the option within the periodspecified in sub-section (4).

(7) On receipt of an application for theregistration of new societies formed by division in accordance with theresolution passed under sub-section (1) or of a new society formed by amalgamationin accordance with the resolution passed under sub-section (2), the CentralRegistrar, on being satisfied that the resolution has become effective undersub-section (6) shall, unless for reasons to be recorded in writing he thinksfit to refuse so to do, register the new societies or society, as the case maybe, and the bye-laws thereof.

(8) On the issue of an order undersub-section (7), the provisions of section 17 shall, so far as may be, apply tothe multi-State Co-operative society so divided or the multi-State co-operativesocieties so amalgamated.

(9) Where a resolution passed by amulti-State Co-operative society under this section involves the transfer ofany assets and liabilities, the resolution shall, notwithstanding anythingcontained in any other law for the time being in force, be a sufficientconveyance to vest the assets and liabilities in the transferee without anyfurther assurance.

15.Central Registrar to prepare scheme ofamalgamation or reorganisation of co-operative bank in certain cases: When anorder of moratorium has been made by the Central Government under sub-section(2) of section 45 of the Banking Regulation Act, 1949 in respect of aco-operative bank, the Central Registrar, with the previous approval of theReserve Bank in writing, may, during the period of moratorium, prepare ascheme-

(a) for the amalgamation of theco-operative bank with any other co-operative bank; or

(b) for the reorganisation of theco-operative bank.

16.Liability of a co-operative bank to theDeposit Insurance and Credit Guarantee Corporation: Notwithstanding anythingcontained in section 14 or any other provision of this Act, where aco-operative bank, being an insured bank within the meaning of the DepositInsurance and Credit Guarantee Corporation Act, 1961, is amalgamated orreorganised and the Deposit Insurance has become liable to pay to thedepositors of the insured bank under subs-section (2) of section 16 of thatAct, the bank with which such insured bank is amalgamated, or the new co-operativebank formed after such amalgamation, or, as the case may be, the insured bankor transferee bank shall be under an obligation to repay to the DepositInsurance Corporation in the circumstances, to the extent and in the mannerreferred to in section 21 of the Deposit Insurance and Credit GuaranteeCorporation Act, 1961.

17.Cancellation of registration certificateof multi-State Co-operative Societies in certain cases: (1) Where the whole ofthe assets and liabilities of a multi-State Co-operative society aretransferred to another multi-State Co-operative society or to a co-operativesociety in accordance with the provisions of section 14, the registration ofthe first-mentioned shall stand cancelled and the society shall be deemed tohave been dissolved and shall cease to exist as a corporate body.

(2) Where two or more multi-StateCo-operative societies are amalgamated in to a new multi-State Co-operativesociety in accordance with the provisions of section 14, the registration ofeach of the amalgamating societies shall stand cancelled on the registration ofthe new society, and each of the amalgamating societies shall be deemed to havebeen dissolved and shall cease to exist as a corporate body.

(3) Where a multi-State Co-operativesociety divides itself into two or more multi-State Co-operative societies ortwo or more co-operative societies in accordance with the provisions of section14, the registration of that society shall stand cancelled on the registrationof the new societies, and that society shall be deemed to have been dissolvedand shall cease to exist as a corporate body.

(4) The amalgamation or division ofmulti-State Co-operative societies shall not in any manner whatsoever affectany right or obligation of the resulting multi-State Co-operative society orsocieties or render defective any legal proceedings by or against themulti-State Co-operative society or societies, and any legal proceedings thatmight have been continued or commenced by or against the multi-StateCo-operative society or societies, as the case may be, before the amalgamationor division may be continued or commenced by or against the resultingmulti-State Co-operative society or societies.

18.Conversion of co-operative society intomulti-State co-operative Society: (1) A Co-operative society may, by anamendment of its bye-laws, extend its jurisdiction and convert itself into amulti-State Co-operative society:

Provided that no such amendment of bye-lawsof a Co-operative society shall be valid unless it has been registered by theCentral Registrar.

(2) (a)Every proposal for such amendment shall be forwarded to the Central Registrar.

(b) If the Central Registrar, afterconsulting the Registrars of Co-operative Societies of the State concerned, hassatisfied himself that such amendment fulfils the requirement of sub-section(2) of section 9.he may register the amendment within a period of six monthsfrom the date of receipt thereof by him:

Provided that if the Central Registrar isunable to register the amendment within the period aforesaid, he shall make areport to the Central Government stating herein the reasons for his inabilityto do so, and the Central Government may allow him such further period orperiods as is considered necessary to register the amendment.

(3) The Central Registrar shall forward tothe co-operative society a copy of the registered amendment together with acertificate signed by him and such certificate shall be conclusive evidencethat the amendment has been registered.

(4) Where the Central Registrar refuses toregister an amendment of the bye-laws of a co-operative society, he shallcommunicate the order of refusal together with the reasons therefor to thesociety in the manner prescribed, within seven days from the date of refusal.

(5) (a)Once the amendment of bye-laws has been registered by the Central Registrar,the co-operative society shall, as from the date of registration of amendment,become a multi-State co-operative society.

(b) The Central Registrar shall forward tothe co-operative society a certificate signed by him to the effect that suchsociety has been registered as a multi-State co-operative society under thisAct and also forward a copy of the same to the Registrar of co-operativesocieties of the State concerned.

(c) The Registrar of Co-operative Societiesreferred to in clause (b) shall thereupon make an order directing that thesociety had, as from the date of registration by the Central Registrar, ceasedto be a society under the law relating to co-operative societies in force inthat State.

CHAPTER III

MEMBERS OF MULTI-STATE CO-OPERATIVESOCIETIES AND THEIR RIGHTS AND LIABILITIES

19.Person who may become members: (1) Noperson shall be admitted as member of a multi-State Co-operative society exceptthe following namely: –

(a) an individual competent to contractunder section 11 of the Indian Contract Act, 1872(9 of 1872);

(b) any multi-State Co-operative society orany co-operative society;

(d) a State Government;

(e) the National Co-operative DevelopmentCorporation established under the National Co-operative Development CorporationAct, 1962(24 of 1962);

(f) any other corporation owned orcontrolled by Government

(g) any Government company as defined insection 617 of the Companies Act, 1956(1 of 1956);

(h) such class or classes of persons orassociation of person as may be permitted by the Central Registrar havingregard to the nature and activities of a multi-State co-operative society.

(2) such number of individuals possessingsuch qualifications as may be prescribed may be admitted as members of theNational Co-operative Union of India Limited, New Delhi.

(3) Save as otherwise provided insub-section (2) and notwithstanding anything contained in sub-section (1), no individualshall be eligible for admission as a member of a national co-operation society.

(4) Any person eligible for membership of amulti-State co-operative society may, on his application, be admitted as amember by such society.

(5) Every application for admission asmember of a multi-State Co-operative society shall be disposed of by suchsociety within a period of four months from the date of receipt of theapplication, and the decision of such society on the application shall becommunicated to the applicant within fifteen days from the date of suchdecision:

Provided that if the application is notdisposed of within the period aforesaid, or the decision is not communicatedwithin a period of fifteen days of the expiry of the aforesaid period of fourmonths, the multi-State Co-operative society shall be deemed to have made adecision, on the date of expiry of such period, refusing admission to theapplicant.

(6) Notwithstanding anything contained inthis section in this section, the Central Government may, having regard to thefact that the interest of any person or class of persons conflicts or is likelyto conflict with the objects of any multi-State Co-operative society or classof multi-State Co-operative societies, by general or special order published inthe Official Gazette, declare that any person or class of persons engaged in orcarrying on any profession, business or employment shall be disqualified frombeing admitted, or for continuing, as members or shall be eligible formembership only to a limited extent of any specified multi-State co-operativesociety or class of multi-State Co-operative societies, so long as such personof persons is or are engaged in or carrying on that profession business oremployment, as the case may be.

20.Members not to exercise rights till duepayment made: No member of a multi-State Co-operative society shall exercisethe rights of a member unless he has made such payments to the society inrespect of membership or has acquired such interest in the society as may bespecified in the bye-laws.

21.Expulsion of members: (1) A multi-StateCo-operative society may, by resolution passed by a majority of not less thantwo-thirds of the members present and voting at a general meeting or membersheld for the purpose, expel a member of acts which are detrimental to theproper working of the society:

Provided that the member concerned shallnot be expelled unless be has been given a reasonable opportunity of makingrepresentation in the matter.

(2) No member of the multi-StateCo-operative society who has been expelled under sub-section (1) shall beeligible for re-admission as a member of that society for a period of threeyears from the date of such expulsion.

Provided that the Central Registrar may, onapplication of the multi-State Co-operative society and if satisfied that inthe special circumstances of the case, it is necessary so to do in theinterests of the multi-State Co-operative society, sanction the re-admission oradmission within the said period, of any such member as a member of the saidsociety.

22.Vote of members: Every member of amulti-State Co-operative society, including a member who is an employee of suchsociety, shall have one vote in the affairs of the society:

Provided that –

(a) a member who is an employee of suchsociety of shall not be entitled by vote-

(i) at an election of a member of the boardof such society;

(ii) in any general meeting convened forframing the bye-laws of such society or any amendments thereto;

(b) in the case of an equality of votes,the Chairman shall have a second or casting vote;

(c) Where any of the authorities referredto in clauses (c) to (g) of sub-section (1) of section 19 is a member of amulti-State Co-operative society, each person nominated by such authority, onthe board, in accordance with the provisions contained in this Act, and therules, shall have one vote;

(d) a multi-State Co-operative society, themembers of which include co-operative societies or other multi-StateCo-operative societies, may provide for an equitable system of voting havingregard to the membership of, and the extent of business carried on by suchco-operative societies, or multi-State Co-operative societies and otherrelevant circumstances.

23.Manner of exercising vote: Every memberof a multi-State Co-operative society shall exercise his vote in person and nomember shall be permitted to vote by proxy:

Provided that a multi-State Co-operativesociety or a co-operative society which is a member of another multi-StateCo-operative society, may, subject to the provisions of sub-section (3) ofsection 29 and the rules, appoint its representative to vote on its behalf inthe affairs of that other society.

24.Restrictions on holding of shares: Nomember, other than any of the authorities referred to in clauses (c) to (g) ofsub-section (1) of section 19 or a multi-State co-operative society or aco-operative society, shall hold more than such portion of the total sharecapital of the society (in no case exceeding one-fifth thereof) as may beprescribed:

Provided that the Central Government may,by notification, specify in respect of any class of societies a higher or lowermaximum that on-fifth of the share capital.

25.Restrictions on transfer of shares orinterest: The transfer of the share or interest of a member in the capital of amulti-State Co-operative society shall be subject to such condition as tomaximum holding as are specified in section 24.

26.Redemption of shares: Shares held in amulti-State Co-operative society by any of the authorities referred to inclauses (c) to (g) of sub-section (1) of section 19 shall be redeemable inaccordance with the bye-laws of such multi-State Co-operative society and in acase where the bye-laws do not contain any provision in this regard, in suchmanner as may be agreed upon between the multi-State Co-operative society andsuch authority.

27.Transfer of interest on death ofmembers: (1) On the death of a member, a multi-State Co-operative society maytransfer the share or interest of the deceased member to the persons nominatedin accordance with the rules made in this behalf, or, if there is no person sonominated to such person as may appear to the board to be the heir or legalrepresentative of the deceased member, or pay to such nominee, heir or legalrepresentative, as the case may be, a sum representing the value of suchmember’s share or interest as ascertained in accordance with the rules:

Provided that no such transfer or paymentshall be made except with the consent of the nominee, heir or legalrepresentative, as the case may be.

(2) A multi-State Co-operative societyshall, unless within six months of the death of the member prevented by anorder of a competent court, pay to such nominee, heir or legal representative,as the case may be, all other moneys due to the deceased member from thesociety.

(3) All transfers and payments made by amulti-State Co-operative society in accordance with the provisions of thissection shall be valid and effectual against any demand made upon the societyby any other person.

28.Liability of past member and estate ofdeceased member: (1) Subject to the provisions of sub-section (2) , theliability of a past member or of the estate of a deceased member of amulti-State Co-operative society for the debts of the society as they existed,-

(a) in the case of a past member, on thedate on which he ceased to be a member;

(b) in the case of a deceased member, onthe date of his death, shall continue for a period of two years from such date.

(2) Notwithstanding anything contained insub-section (1), where a multi-State Co-operative society is ordered to bewould up under section 77, the liability of a past member who ceased to be amember or of the estate of a deceased member who died within two yearsimmediately preceding the date of the order of winding up, shall continue untilthe entire liquidation proceedings are completed, but such liability shallextend only to the debts of the society as they existed on the date ofcessation of membership or death, as the case may be.

CHAPTER IV

DIRECTION AND MANAGEMENT OF MULTI-STATECO-OPERATIVE SOCIETIES

29.General body, it constitution, powersand functions: (1) The general body of a multi-State Co-operative society shallconsist of all the members of such society:

Provided that where the bye-laws of amulti-State Co-operative society provide for the constitution of a smaller bodyconsisting of delegates of members of the society elected or selected inaccordance with such bye-laws, that smaller body shall exercise such powers ofthe general body as may be prescribed or as may be specified in the bye-laws ofthe society.

(2) Subject to the provisions of this Act,the rules and the bye-laws, the ultimate authority of a multi-StateCo-operative society shall vest in the general body of its members:

Provided that nothing contained in thissub-section shall affect the exercise by the board or any officer ofmulti-State Co-operative society of any power conferred on such board or suchofficer by this Act or the rules or the bye-laws.

(3) Where in any meeting of the generalbody or the board of a multi-State Co-operative society, a co-operative societyor another multi-State Co-operative society is to be represented, suchco-operative society or other multi-State Co-operative society shall berepresented in such meeting only through the Chairman or the Chief Executive,of such co-operative society or other multi-State Co-operative society, as thecase may be, and where there is no board of such co-operative society or othermulti-State Co-operative society, for whatever reasons, through theadministrator, by whatever name called, of such co-operative society or othermulti-State co-operative society.

30.Annual general meeting of the generalbody: (1) Every multi-State Co-operative society shall, within such period asmay be prescribed, after the close of the year, call a general meeting of itsmembers in the manner prescribed for the purpose of-

(a) consideration of the audit report andannual report;

(b) disposal of net profits;

(d) amendment of bye-laws;

(e) election, if any, of the members of theboard, other than nominated members, subject to the provisions of section 35:

Provided that the Central Registrar may, bygeneral or special order, extend the period for holding such meeting for afurther period not exceeding three months:

Provided further that if in the opinion ofthe Central Registrar no such extension is necessary or such meeting is notcalled by the multi-State Co-operative society within the extended period, ifany, granted by him, the Central Registrar or any person authorised by him inthis behalf may call such meeting in the manner prescribed, and that meetingshall be deemed to be a general meeting duly called by the society and theCentral Registrar may order that expenditure incurred in calling such a meetingshall be paid out of the funds of the society or by such person or persons who,in the opinion of the Central Registrar, was or were responsible for therefusal or failure to convene the general meeting.

(2) At every annual general meeting of amulti-State Co-operative society the Board shall lay before the society astatement showing the details of the loans or goods on credit, if any, given toany of the members of the board or to the spouse or a son or daughter of amember of the board during the preceding years or outstanding against him oragainst such spouse or son or daughter of the members of the board.

31.Special general meeting of the generalbody: (1) The Chief Executive may, at any time , on the direction of the board,call a special general meeting of the society and shall call such meetingwithin one month after the receipt of a requisition in writing from the CentralRegistrar or from such member or members or a proportion of the total number ofmembers, as may be provided in the bye-laws.

(2) If a special general meeting of amulti-State Co-operative society is not called in accordance with the requisitionreferred to in sub-section (1) the Central Registrar or any person authorisedby him in this behalf shall have the power to called such meeting and thatmeeting shall be deemed to be a meeting called by the Chief Executive inaccordance with the provisions of that sub-section and the Central Registrarmay order that the expenditure incurred in calling such meeting shall be paidout of the funds of the society or by such person or persons who, in theopinion of the Central Registrar, was or were responsible for the refusal orfailure to convene the special general meeting.

32.Board of directors: Subject to theprovisions of this Act and the rules, there shall be a board of directors forevery multi-State Co-operative society consisting of such number of members asmay be provided for under the bye-laws.

33.Association of employees in themanagement decision making process: Every multi-State Co-operative societyshall devise such procedure, as may be specified in the bye-laws or in theadministrative instructions, for association of the representatives ofemployees of such multi-State Co-operative societies at such level or bodies asmay be specified in the bye-laws or the instructions issued in this regard, inthe management decision making process.

34.Disqualification for a member of aboard: No member of any multi-State Co-operative society or nominee of amember-society on a national co-operative society shall be eligible for beingchosen as, or for being, a member of the board of such multi-State Co-operativesociety or national co-operative society or of any other co-operative societyto which the multi-State Co-operative society is affiliated, if such member

(a) has been adjudged by a competent courtto be insolvent or of unsound mind;

(b) is concerned or participates in theprofits of any contract with the society;

(d) holds any office or place of profitunder the society:

Provided that the Chief Executive of suchfull-time employee of the society as may be notified by the Central Governmentfrom time to time or a person elected by the employees of such society torepresent them on the board of such society shall be eligible for being chosenas, or for being, a member of such board;

(e) has been a member of the society forless than twelve months immediately preceding the date of such election orappointment;

(f) has interest in any business of thekind carried on by the society of which he is a member;

(g) has taken loan or goods on credit fromthe society of which he is a member, or is otherwise indebted to such societyand after the receipt of a notice of default issued to him by such society, hasdefaulted-

(i) in repayment of such loan or debt or inpayment of the price of the goods taken on credit, as the case may be, withinthe date fixed for such repayment or payment or where such date is extend,which in no case shall exceed six months, within the date so extended, or

(ii) When such loan or debt or the price ofthe goods taken on credit is to be paid in instalments, in payment of anyinstalment, and the amount in default or any part thereof has remained unpaidon the expiry of six months from the date of such default:

Provided that a member of the board who hasceased to hold office as such under this clause shall not be eligible, for aperiod of one year, from the date on which, he ceased to hold office, forre-election as a member of the Board of the multi-State Co-operative society ofwhich he was a member or for election to the board of any other multi-StateCo-operative society;

(h) is a person against whom any amount dueunder a decree, decision or order is pending recovery under this Act;

(i) is retained or employed as a legalpractitioner on behalf of or against the multi-State co-operative society, oron behalf of or against any other multi-State Co-operative society which is amember of the former society.

Explanation: For the purpose of this clause"legal practitioner" has the same meaning as in clause (i) ofsub-section (1) of section 2 of the Advocates Act, 1961(25 OF 1961);

(j) has been convicted for any offenceunder this Act.

35.Election of members of board: (1) Thesuperintendence, direction and control of the preparation of the electoralrolls for, and the conduct of, elections of the members of the board of suchmulti-State Co-operative societies or class of multi-State Co-operativesocieties as the Central Government may, by general or special order, notify,shall be vested in such returning officers as may be appointed by the CentralRegistrar in this behalf.

(2) The vote at such elections shall be bysecret ballot.

(3) The term of office of the electedmembers of the board shall be such, not exceeding three years from the date ofelection, as may be specified in the bye-laws of a multi-State Co-operativesociety.

Provided that the elected members shallcontinue to hold office till their successors are elected or nominated underthe provisions of this Act or the rules or the bye-laws and assume the chargeof their office.

(4) No persons shall be eligible to beelected as a member of the board of a multi-State Co-operative society unlesshe is a member of the general body of that society.

(5) The Central Government may make rulesgenerally to provide for or to regulate matters in respect of elections ofmembers of the board.

36.Holding of office in co-operativesociety: Notwithstanding anything contained in this Act, no person shall beeligible to hold, at the same time, office of a president or chairman orvice-president or vice-chairman on the board of more than one multi-StateCo-operative society:

Provided that any person holding, at thecommencement of this Act, the office of a president or chairman orvice-president or vice-Chairman in more than one multi-State Co-operativesociety shall, within three months from such commencement by notice in writingsigned by him, intimate the name of the multi-State Co-operative society inwhich he wishes to serve and thereupon his office in the other multi-StateCo-operative society in which he does not wish to serve shall become vacant:

Provided further that in default of suchintimation within the period referred to in the preceding proviso, his officesin all the multi-State Co-operative societies shall, at the expiration of theperiod aforesaid, become vacant.

37.Restrictions on holding of office: Noperson shall be eligible to hold the office of a president or chairman orvice-president or vice-Chairman on the board of a multi-State Co-operativesociety, after he has held the office as aforesaid during two consecutiveterms, whether full or part:

Provided that a person who has ceased tohold the office of a president or chairman continuously for one full term ofthree years shall again be eligible for election to the offices aforesaid.

Explanation: Where any person holding theoffice of the president or vice-president or chairman or vice-chairman at thecommencement of this Act is again elected to that office after suchcommencement the shall for the purpose of this section, be deemed to have heldoffice for one term before such election.

38.Payment of honorarium: Honorarium may bepaid to the elected chairman or president of the board out of the profits ofthe multi-State Co-operative society in respect of specific services renderedby him, subject to such restrictions and conditions as may be prescribed.

39.Removal of elected members by generalbody: An elected member of a board who has acted adversely to the interests ofmulti-State Co-operative society may, on the basis of a report from the CentralRegistrar or otherwise, be removed from the board upon a resolution of thegeneral body passed at its meeting by a majority of not less than two-thirds ofthe members present and voting at the meeting:

Provided that the member concerned shallnot be removed unless he has been given a reasonable opportunity of makingrepresentation in the matter.

40.Removal of member by Central Registrar:If in spite of cessation of office under circumstances mentioned in section 34,section 36, section 37 or section 39 a member of the board refuses to vacatehis office, the Central Registrar shall, by order in writing, remove him fromsuch office.

41.Nominee of Central Government or StateGovernment on the board: (1) Where the Central Government or a State Governmenthas subscribed to the share capital of a multi-State Co-operative society orhas guaranteed the repayment of principal and payment of interest on debenturesissued by a multi-State Co-operative society or has guaranteed the repayment ofprincipal and payment of interest on loans and advances to a multi-StateCo-operative society, the Central Government or the State Government in thisbehalf, as the case may be, or any person authorised by the Central Governmentor the State Government, shall have the right to nominate on the board suchnumber of persons as may be prescribed.

(2) The bye-laws of a multi-StateCo-operative society may provide for the nomination of persons in excess of thelimits prescribed under sub-section (1).

(3) A person nominated under this Sectionshall hold office during the pleasure of the Government by which he has been sonominated.

42.Powers and functions of the board: (1)The board may exercise all such powers as may be necessary or expedient for thepurpose of carrying out its functions under this Act.

(2) Without prejudice to the generality ofthe foregoing power, such power shall include the power-

(a) to admit members;

(b) to interpret the organisationalobjectives and set up specific goals to be achieved towards these objectives;

(d) to appoint a Chief Executive and suchother employees of the society (out of the list of persons referred to insection 50) as are not required to be appointed by the Chief Executive;

(e) to make provisions for regulating theappointment of employees of the multi-State Co-operative society and the scalesof pay, allowance and other conditions of service of, including disciplinaryaction against, such employees;

(f) to approve annual and supplementarybudget;

(g) to acquire or dispose of immovableproperty;

(h) to raise funds;

(i) to sanction loans to the members; and

(j) to take such other measures or to dosuch other acts as may be prescribed or required under this Act.

43.Meetings of the board: (1) The ChiefExecutive shall convene the meetings of the board at the instance of theChairman or president of the multi-State Co-operative society.

(2) The total number of meetings of theboard in a year and the venue of meetings may be such as may be prescribed:

Provided that the board shall meet at leastonce in every quarter.

44.Chief Executive: (1) There shall be aChief Executive, by whatever, designation called, of every multi-State Co-operativesociety, to be appointed by the board and he shall be a full-time employee ofsuch multi-State Co-operative society.

(2) The Chief Executive shall be a memberof the board and of the Executive Committee and such other committees orsub-committees as may be constituted under sub-section (1) of section 46.

(3) The functional directions in nationalco-operative societies shall also be members of the board.

(4) Where the Central Government hassubscribed to the extent of more than one-half of the share capital of anational co-operative society, it shall be obligatory on such a society to seekprior approval of the Central Government to the appointment of Chief Executiveand the functional directors.

45.Powers and functions of Chief Executive:The Chief Executive shall exercise the powers and discharge the functionsspecified below, namely: –

(a) day-to-day management of the businessof the multi-State Co-operative society;

(b) operating the accounts of themulti-State Co-operative society and be responsible for making arrangement forsafe custody of cash;

(d) making arrangements for the propermaintenance of various books and records of the multi-State Co-operativesociety and for the correct preparation, timely submission of periodicalstatements and returns in accordance with the provisions of this Act, the rulesand the bye-laws;

(e) convening meetings of the general bodyof the multi-State Co-operative society, the board and the Executive Committeeand other committees or sub-committees constituted under sub-section (1) ofsection 46 and maintaining proper records for such meetings;

(f) making appointments to posts in themulti-State Co-operative society in accordance with the rules make under clause(e) of sub-section (2) of section 42 except the post in relation to which thepower of appointment vests in the board under clause (d) of that sub-section;

(g) assisting the board in the formulationof policies and objectives and planning;

(h) furnishing to the board periodicalinformation necessary for appraising the operations and functions of themulti-State Co-operative society;

(i) performing such other duties, andexercising such other powers, as may be prescribed or as may be specified inthe bye-laws of the multi-State Co-operative society.

46.Committees of the Board: (1) The boardmay, subject to such conditions as may be prescribed, constitute an ExecutiveCommittee and other committees or sub-committees, as may be considerednecessary.

(2) The Executive Committee or othercommittee or sub-committee referred to in sub-section (1) shall perform suchfunctions as are assigned to it in accordance with the bye-laws of themulti-State Co-operative society.

47.Central Governments power to givedirections in the public interest: If the Central Government is satisfied thatin the public interest or for the purposes of securing proper implementation ofco-operative production and other developmental programmes approved orundertaken by the Central Government or to secure proper management of thebusiness of the multi-State Co-operative societies generally or for preventingthe affairs of the multi-State Co-operative society being conducted in a mannerdetrimental to the interest of the members, any depositor or creditors thereof,it is necessary to issue directions to any class of multi-State Co-operativesocieties generally or to any multi-State Co-operative society or societies inparticular, the Central Government may issue directions to them or to it, fromtime to time, and all such multi-State Co-operative societies or the societyconcerned, as the case may be, shall be bound to comply with such directions.

48.Supersession of board:(1) If in theopinion of the Central Registrar the board of any multi-State Co-operativeSociety is persistently making default or is negligent in the performance ofthe duties imposed on it by this Act or the rules or the bye-laws or hascommitted any act which is prejudicial to the interest of the society or itsmembers, or has omitted or failed to comply with any directions given to itunder section 47 or that there is a stalemate in the constitution or functionsof the board, the Central Registrar may, after giving the board an opportunityto state it objections, if any, and considering the objections, if received ,by order in writing, remove the board and appoint one or more administrators,who need not be members of the society, to manage the affairs of the societyfor such period not exceeding one year, as may be specified in the order, whichperiod may, at the discretion of the Central Registrar, be extended from timeto time; so, however, that the aggregate period does not exceed two years.

(2) The Central Registrar may fix suchremuneration for the administrators, as he may think fit and the remunerationshall be paid out of the funds of the multi-State Co-operative society.

(3) The administrator shall, subject to thecontrol of the Central Registrar and to such instructions as he may from timeto time give, have power to exercise all or any of the functions of the boardor of any officer of the multi-State Co-operative society and take all suchactions as may be required in the interests of the society.

(4) Save as other wise provided insub-section (5), the administrator shall, before the expiry of his term ofoffice, arrange for the constitution of a new board in accordance with thebye-laws of the multi-State Co-operative society.

(5) If at any time during the period theadministrator is in office, the Central Registrar considers it necessary orexpedient so to do, he may, by order in writing giving reasons therefor, directthe administrator to arrange for the constitution of a new board for suchmulti-State Co-operative society in accordance with the bye-laws of suchsociety and immediately on the constitution of such board, the administratorshall hand over the management of such society to such newly constituted boardand cease to function.

(6) Where a multi-State Co-operativesociety is indebted to any financial institution, the Central Registrar shall,before taking any action, under sub-section (1) in respect of that society,consult the financial institution.

(7) Notwithstanding anything contained inthis Act, the Central Registrar shall, in the case of a co-operative bank, ifso required in writing by the Reserve Bank in the public interest or forpreventing the affairs of the co-operative banks being conducted in a mannerdetrimental to the interests of the depositors or for securing the propermanagement of a co-operative bank, pass an order for the supersession of theboard of that co-operative bank and for the appointment of an administratortherefor for such period or periods not exceeding five years in the aggregateas may from time to time be specified by the Reserve Bank.

49.Securing possession of records, etc.:(1) If-

(a) the records (including registers andbooks of accounts) of a multi-State Co-operative society are likely to betampered with or destroyed or the funds or other property of such society arelikely to be misappropriated or misapplied; or

(b) the board of a multi-State co-operativesociety is reconstituted at a general meeting or the society; or

(c) the board of a multi-State Co-operativesociety it removed by the Central Registrar under sub-section (1) of section48; or

(d) a multi-State Co-operative society isordered to be wound up under section 77 and the outgoing members of the boardrefuse to hand over charge of the records and property of the society to thosehaving, or entitled to receive, such charge,

the Central Registrar may apply to themagistrate within whose jurisdiction the multi-State Co-operative societyfunctions for securing the records and property of the society.

(2) On receipt of an application undersub-section (1), the magistrate may, by a warrant, authorise any police officernot below the rank of a sub-Inspector to enter and search any place where suchrecords and property are kept or are believed to be kept and to seize suchrecords and property; and the records and property so seized shall be handedover to the new board or administrator of the multi-State Co-operative societyor the liquidator, as the case may be.

(3) Every such search and seizure shall bemade in accordance with the provisions of the Code of Criminal procedure, 1973

50.Constitution of body of persons forpreparation of list, etc.: The Central Government shall-

(a) Constitute a body of persons in themanner prescribed for the preparation of a list of persons eligible forappointment to the posts of Chief Executives and other managerial posts innational co-operative societies, the maximum pay-scale of which exceeds suchamount as may be prescribed;

(b) make rules for regulating the recruitment,remuneration, allowances and other conditions of service of officers and otheremployees of national co-operative societies.

51.Acts of multi-State co-operativesocieties not to be invalidated by certain defects: No act of a multi-StateCo-operative society or of any board or of any committee or of any officer ofthe society shall be deemed to be invalid by reason only of the existence ofany defect in the procedure or in the constitution of the society or of theboard or of the Committee thereof or in the appointment or election of anofficer or on the ground that such officer was disqualified to hold office.

CHAPTER V

PRIVILEGES OF MULTI-STATE CO-OPERATIVESOCIETIES

52.Multi-State co-operative society to bebody corporate: The registration of a multi-State Co-operative society shallrender it a body corporate by the name under which it is registered havingperpetual succession an a common seal, and with power to hold property, enterinto contract, institute and defend suits and other legal proceedings and to doall things necessary for the purposes for which it is constituted.

53.Charge and set-off, in respect of shareor contribution or interest of members: A multi-State Co-operative societyshall have a charge on the share on contribution or interest in the capital andon the deposits of a member or past or deceased member and on any dividend,bonus or profits payable to a member or past member or the estate of a deceasedmember in respect of any debt due from such member or past member or the estateof such deceased member to the society, and may set-off any sum credited orpayable to a member or past member or the estate of deceased member in ortowards payment of any such debt.

54.Share or contribution or interest notliable to attachment: (1) Subject to the provisions of section 53, the share orcontribution or interest of a member or past or deceased member in the capitalof a multi-State Co-operative society shall not be liable to attachment or saleunder any decree or order of any court in respect of any debt or liabilityincurred by such member, and an official assignee or a receiver under any lawrelating to insolvency shall not be entitled to or have any claim on such shareor contribution or interest.

(2) The reserve fund, or the bad debtreserves, or the provident fund of the employees, of a multi-State Co-operativesociety invested by such society in accordance with the provisions of this Actand the rules shall not be liable to attachment under any decree or order of acourt in respect of any debt or liability incurred by the society.

55.Register of members: Any register orlist of members or shares kept by any multi-State co-operative society shall beprima facie evidence of any of the following particulars entered therein,namely: –

(a) the date on which any person entered insuch register or list became a member;

(b) the date on which any such personceased to be a member.

56.Admissibility of copy of entry asevidence: (1) A copy of any entry in a book of a multi-State Co-operativesociety regularly kept in the course of its business shall, if certified insuch manner as may be prescribed, be received in any suit or legal proceedingas prima facie evidence of the existence of such entry and shall be admitted asevidence of the matters, transactions and accounts therein recorded in everycase, where, and to the same extent as, the original entry itself isadmissible.

(2) No office is a multi-State Co-operativesociety and no officer in whose office the books of a multi-State Co-operativesociety are deposited after liquidation shall, in any legal proceedings towhich the society or the liquidator is not a party, be compelled to produce anyof the society’s books or documents the contents of which can be proved underthis section, or to appear as a witness to prove the matters, transactions andaccounts therein recorded, except under an order of a court or an arbitratormade for a special cause.

57.Exemption from compulsory registrationof instruments: Nothing in clauses (b) and (c) of sub-section (1) of section 17of the Registration Act 1908, shall apply to-

(a) any instrument relating to shares in amulti-State Co-operative society notwithstanding that the assets of the societyconsist in whole or in part of immovable property; or

(b)any debenture issued by any such society and not creating declaring, assigning,limiting or extinguishing any right, title or interest to or in immovableproperty, except in so far as it entitles the holder thereof to the securityafforded by a registered instrument whereby the society has mortgaged, conveyedor otherwise transferred the whole of part of its immovable property or anyinterest therein to trustees upon trust for the benefit of the holders of suchdebentures; or

58.Deduction from salary to meetmulti-State co-operative societies claim in certain cases: (1) Notwithstandinganything contained in any law for the time being in force, a member ofmulti-State Co-operative society may execute an agreement in favour of thatsociety providing that his employer disbursing his salary or wages shall becompetent to deduct every month from the salary or wages payable to him, suchamount as may be specified in the agreement and to pay the amount so deductedto the society in satisfaction of any debt or other demand owing by the memberto the society.

(2) On the execution of such agreement, theemployer disbursing the salary or wages of the members shall, if so required bythe multi-State Co-operative society by a requisition in writing and so long asthe society does not intimate that the whole of such debt or other demand hasbeen paid, make the deduction in accordance with the agreement and pay theamount so deducted to the society within a period of fourteen days of the dateon which deduction has been made, as if it were a part of the salary or wagespayable on the day as required under the Payment of Wages Act, 1936, and suchpayment shall be valid discharge of the employer for his liability to pay theamount deducted.

(3) If after the receipt of a requisitionmade under sub-section (2) the employer disbursing the salary or wages of themember at any time fails to deduct the amount specified in the requisition fromthe salary or wages payable to the member concerned or makes default inremitting the amount deducted to the multi-State Co-operative society, thesociety shall be entitled to recover any such amount from such employer asarrears of land revenue and the amount so due from such employer shall rank inpriority in respect of the liability of such employer equal to that of thesalary or wages in arrears.

59.Government aid to multi-Stateco-operative societies: Notwithstanding anything contained in any law for thetime being in force, the Central Government or a State Government may, with aview to promoting co-operative movement, –

(a) subscribe to the share capital of amulti-State Co-operative society;

(b) give loans or make advances to amulti-State Co-operative society;

(c) guarantee the repayment of principaland payment of interest on debentures issued by a multi-State Co-operativesociety;

(d) guarantee the repayment of sharecapital of a multi-State Co-operative society and dividends thereon at such ratesas may be specified by the Central Government or the State Government;

(e) guarantee the repayment of principaland payment of interest on loans and advances to a multi-State Co-operativesociety;

(f) given financial assistance in any otherform, including subsidies, to any multi-State Co-operative society.

CHAPTER VI

PROPERTIES AND FUNDS OF MULTI-STATECO-OPERATIVE SOCIETIES

60.Funds not to be divided by way ofprofit: (1) No part of the funds, other than net profits, of a multi-StateCo-operative society shall be divided by way of bonus or dividend or otherwisedistributed among its members.

(2) The net profits of a multi-StateCo-operative society referred to in sub-section (1) in respect of a societyearning profits shall be calculated by deducting from the gross profits for theyear, all interest accrued and accruing in relation to amounts which areoverdue, establishment charges, interest payable on loans deposits, audit fees,working expenses including repairs, rent, taxes and depreciation, bonus payableto employees under the law relating to payment of bonus for the time being inforce, and equalisation fund for such bonus, provision for payment ofincome-tax and making approved donations under the Income-tax Act, 1961(43 of1961), development rebate, provisions for development fund, bad debt fund,price fluctuation fund, dividend equalisation fund, share capital, redemptionfund, investment fluctuation fund, provision for retirement benefits toemployees, and after providing for or writing off bad debts and losses notadjusted against any fund created out of profit:

Provided that such society may, add to thenet profits for the year, interest accrued in the preceding year, but actuallyrecovered during the year:

Provided further that in case of suchmulti-State Co-operative societies as do not have share capital the surplus ofincome over expenditure shall not be treated as net profits and such surplusshall be dealt with in accordance with the bye-laws.

61.Disposal of net profits: (1) A multi-StateCo-operative society shall, out or its net profits in any year –

(a) transfer an amount not less thantwenty-five percent to the reserve fund; and

(b) credit such portion, as may beprescribed, to the co-operative education fund maintained by the NationalCo-operative Union of India Limited, NewDelhi.

(2) Subject to such conditions as may beprescribed, the balance of the net profits may be utilised for all or any ofthe following purposes, namely: –

(a) payment of dividend to members on theirpaid-up share capital at a rate not exceeding the prescribed limited;

(b) constitution of, or contribution to,such special funds including education funds, as may be specified in thebye-laws;

(c) donation of amounts not exceeding fivepercent of the net profits for any purpose connected with the development ofco-operative movement or charitable purpose as defined in section 2 of theCharitable Endowments Act, 1890;

(d) payment of ex gratia amount to employeeof the multi-State Co-operative society to the extent and in the mannerspecified in the bye-laws.

(3) The funds of a multi-State Co-operativesociety shall not be utilised for any political purpose.

62.Investment of funds: A multi-StateCo-operative society may invest or deposit its funds –

(a) in a co-operative bank, Stateco-operative bank, co-operative land mortgage bank, co-operative landdevelopment bank or Central co-operative bank; or

(b) in any of the securities specified insection 20 of the Indian Trusts Act, 1882; or

(2 of 1882.)

(d) in the shares, securities or assets ofany other institution with the previous approval of the Central Registrar; or

(e) with any bank; or

(f) in such or other mode as may beprescribed.

Explanation: In clause (e),"bank" means any banking company as defined in clause (c) of section5 of the Banking Regulation Act, 1949, and includes, –

(i) the State Bank of Indiaconstituted under the State Bank of India Act, 1955;

(ii) a subsidiary bank as defined in clause(k) of section 2 of the State Bank of India (Subsidiary Banks) Act, 1959;

(iii) a corresponding new bank constitutedunder section 3 of the Banking companies (Acquisition and Transfer ofUndertakings) Act, 1970 or a corresponding new bank constituted under takings)Act, 1970 or a corresponding new bank constituted under section 3 of theBanking Companies (Acquisition and Transfer of Undertakings) Act, 1980.

63.Restrictions on loans: (1) A multi-StateCo-operative society, other than a co-operative bank, shall not make a loan-

(a) to a member on the security of hisshare or on the security of a non-member; or

(b) to a non-member:

Provided that with the general or specialsanction of the Central Registrar, a multi-State Co-operative society may makeloans to another multi-State Co-operative society.

(2) Notwithstanding anything contained insub-section (1), a multi-State Co-operative society may make a loan to adepositor on the security of his deposit.

64.Restrictions of borrowing: A multi-StateCo-operative society shall receive deposits and loans only to such extent andunder such conditions as may be specified in the bye-laws:

Provided that a co-operative bank shall begoverned by the provisions of the Banking Regulation Act, 1949.

65.Restrictions on other transaction withnon-members: Save as provided in section 63 and 64, the transaction of amulti-State Co-operative society with any person other than a member shall besubject to such prohibitions and restrictions if any, as may be prescribed.

66.Contributory provident fund: (1) Amulti-State Co-operative society having such number or class of employees asmay be prescribed may establish a contributory provident fund for the benefitof such employees to which shall be credited all contributions made by theemployees and the society in accordance with the bye-laws of the society.

(2) Monies standing to the credit of anycontributory provident fund established by a multi-State Co-operative societyunder sub-section (1) shall not-

(a) be used in the business of the society;

(b) form part of the assets of the society;

(3) Notwithstanding anything contained inthis section, a provident fund established by a multi-State Co-operativesociety to which the provisions of the Employees’ Provident funs andMiscellaneous Provisions Act, 1952, apply, shall be governed by that Act.

CHAPTER VII

AUDIT, INQUIRY, INSPECTION AND SURCHARGE

67.Audit: (1) The Central Registrar shallaudit, or cause to be audited by a person authorised by him or general orspecial order in writing in this behalf, the amounts of every multi-StateCo-operative society at least once in each year.

(2) The audit under sub-section (1) shallinclude an examination of overdue debts, if any, the verification of the cashbalance and securities and a valuation of the assets and liabilities of themulti-State Co-operative society.

(3) The person auditing the accounts of amulti-State Co-operative society shall have free access to the books, accounts,papers, vouchers, stock and other property of such society and shall be allowedto very its cash balance and securities.

(4) The directors, managers,administrators, and other officers of the multi-State Co-operative societyshall furnish to the person auditing the accounts of the society all suchinformation as to its transactions and working as such person may require.

(5) The Central Registrar or the personauthorised by him under sub-section (1) to audit the accounts of multi-StateCo-operative society shall have power, where necessary-

(a) to summon at the time of the audit anyofficer, agent, servant or member of the society, past or present, who, he hasreason to believe can give valuable information in regard to transactions ofthe society or the management of its affairs; and

(b) to require the production of any bookor document relating to the affairs of, or any cash or securities belonging to,the society by any officer, agent, servant, or member of the society inpossession of such books, documents, cash or securities and in the event ofserious irregularities discovered during audit, to take them into custody.

(6) If at the time of audit the account ofa multi-State Co-operative society are not complete, the Central Registrar orthe person authorised by him under sub-section (1) to audit may cause theaccounts to be written up at the expense of the society.

(7) Audit fee, if any, due from anymulti-State Co-operative society shall be determined by the Central Registrarand shall be recoverable in the same manner as is provided in section 89.

68.Inspection of multi-State Co-operativesocieties: (1) The Central Registrar, or any person authorised by him bygeneral or special order in writing in this behalf, may inspect a multi-StateCo-operative society.

(2) (a)For the purpose of inspection under sub-section (1), the Central Registrar orthe person authorised by him under that sub-section shall at all time haveaccess to all books, accounts papers, vouchers, securities, stock and otherproperty of that society and may, in the event of serious irregularitiesdiscovered during inspection, take them into custody and shall have power toverify the cash balance of that society and subject to the general or specialorder of the Central Registrar to call a meeting of the board and also ageneral meeting of the society where such general meeting is, in his opinion,necessary.

(b) Every officer or member of amulti-State Co-operative society shall furnish such information with regard tothe working of the society as the Central Registrar or the person making suchinspection may require.

(3) A copy of the report of inspectionunder this section shall be communicated to the multi-State Co-operativesociety within a period of three months from the date of completion of suchinspection.

69.Inquiry by Central Registrar: (1) TheCentral Registrar may, of his own motion or on the application of a majority ofthe members of the board or of not less than one-third of the members, hold aninquiry or direct some person authorised by him by order in writing in thisbehalf to hold an inquiry into the constitution, working and financialcondition of a multi-State Co-operative society.

(2) The Central Registrar or the personauthorised by him under sub-section (1) shall have the following powers,namely: –

(a) he shall at all reasonable times havefree access to the books, accounts, documents, securities, cash and otherproperties belonging to or in the custody of the multi-State Co-operativesociety and may summon any person in possession or responsible for the custodyof any such books, accounts, documents, securities, cash or other properties toproduce the same, at any place specified by him;

(b)he may, notwithstanding any rule or bye-law specifying the period of notice fora general meeting of the multi-State Co-operative society, require the officersof the society to call a general meeting of the society by giving notice of notless than seven days at such time place at the headquarters of the society toconsider such matters, as may be directed by him; and where the officers of thesociety refuse or fail to call such a meeting, he shall have power to call ithimself;

(c) he may summon any person who isreasonably believed by him to have any knowledge of the affairs of themulti-State Co-operative society to appear before him at any place at theheadquarters of the society or any branch thereof and may examine such personon oath.

(3) Any meeting called under clause (b) ofsub-section (2) shall have all the powers of a general meeting of the societycalled under the bye-laws of the society and its proceedings shall be regulatedby such bye-laws.

(4) The Central Registrar shall, within aperiod of three months of the date of receipt of the report, communicate abrief summary of the report of the inquiry to the multi-State Co-operativesociety, the financial institutions, if any, to which the society isaffiliated, and to the person or authority, if any, at whose instance theinquiry is made.

70.Inspection of books of indebtedmulti-State co-operative societies: (1) The Central Registrar shall, on theapplication of a creditor of a multi-State Co-operative society, inspect, ordirect some person authorised by him by order in writing in this behalf toinspect, the books of the society:

Provided that no such inspection shall bemade unless the applicant-

(a) satisfies the Central Registrar thatthe debt is a sum then due and that he has demanded payment thereof and has notreceived satisfaction within a reasonable time; and

(b) deposits with the Central Registrarsuch sum as security for the costs of the proposed inspection as the CentralRegistrar may require.

(2) The Central Registrar shall communicatethe result of any such inspection to the creditor.

71.Costs of inquiry and inspection: Wherean inquiry is held under section 69 or an inspection is made under section 70,the Central Registrar may apportion the costs, or such part of the costs, as hemay think fit, between the multi-State Co-operative society, the members orcreditor demanding an inquiry or inspection, and the officers or former officerand the members or past members of that society:

Provided that –

(a) no order of apportionment of the costsshall be made under this section unless the society or the person liable to paythe costs thereunder has had a reasonable opportunity of being heard;

(b) the Central Registrar shall state inwriting under his own hand the grounds on which the costs are apportioned.

72.Recovery of costs: Any sum awarded byway of costs under section 71 may be recovered on application to a magistratehaving jurisdiction in the place where the person from whom the money isclaimable, actually and voluntarily resides or carries on business, and suchmagistrate shall recover the same as if it were a fine imposed by himself.

73.Repayment, etc.: (1) If in the course ofan audit, inquiry, inspection or the winding up of a multi-State Co-operativesociety it is found that any person, who is or was entrusted with theorganisation or management of such society or who is or has at any time been anofficer or an employee of the society, has made any payment contrary to thisAct, the rules or the bye-laws or has caused any deficiency in the assets ofthe society by breach of trust or wilful negligence or has misappropriated orfraudulently retained any money or other property belonging to such society,the Central Registrar may, of his own motion or on the application of theboard, liquidator or any creditor, inquire himself or direct any personauthorised by him, by an order in writing in this behalf, to inquire into theconduct of such person within a period of two years from the date of the reportof the audit, inspection or inquiry or the date of the order of winding up, asthe case may be:

Provided that where the Central Registraris satisfied that such inquiry could not be commenced during the period of twoyears aforesaid on account of fraud or concealment of facts make, or direct theinquiry to be made, within such period not exceeding six year from, the date ofthe report of the audit, inspection or inquiry or the date of the order ofwinding up, as he may think fit.

(2) Where an inquiry is made undersub-section (1), the Central Registrar may, after giving the person concerned areasonable opportunity of being heard make an order requiring him to repay orrestore the money or property or any part thereof with interest at such rate orto pay contribution and costs or compensation to such extent as the CentralRegistrar may consider just and equitable.

CHAPTER VIII

SETTLEMENT OF DISPUTES

74.Disputes: (1) Notwithstanding anythingcontained in any other law for the time being in force, if any dispute (otherthan a dispute regarding disciplinary action taken by a multi-StateCo-operative society against its paid employee or an industrial dispute asdefined in clause (k) of section 2 of the Industrial Disputes Act, 1947)touching the constitution, management or business of a multi-State Co-operativesociety arises-

(a) among members, past members and personsclaiming through members, past members and deceased members, or

(b) between a member, past member or aperson claiming through a member, past member or deceased member and themulti-State co-operative society, its board or any officer, agent or employeeof the multi-State Co-operative society of liquidator, past or present or

(c) between the multi-State Co-operativesociety or its board and any past board, any officer, agent or employee, or anypast officer, past agent or past employee or the nominee, heirs or legalrepresentatives of any deceased officer, deceased agent, or deceased employeeof the multi-State Co-operative society, or

(d) between the multi-State Co-operativesociety and any other multi-State Co-operative society, between a multi-StateCo-operative society and liquidator of another multi-State Co-operative societyor between the liquidator of one multi-State Co-operative society and theliquidator of another multi-State Co-operative society,

such dispute shall be referred to theCentral Registrar for decision and no court shall have jurisdiction toentertain any suit or other proceedings in respect of such dispute:

Provided that all disputes in which anational co-operative society is a party shall be referred to the CentralRegistrar or any officer empowered to exercise the powers of Central Registrar.

(2) For the purposes of sub-section (1), thefollowing shall be deemed to be disputes touching the constitution, managementor business of a multi-State Co-operative society, namely: –

(a) a claim by the multi-State Co-operativesociety for any debt or demand due to it from a member or the nominee, heirs orlegal representatives of a deceased member, whether such debt or demand beadmitted or not;

(b) a claim by surety against the principaldebtor where the multi-State Co-operative society has recovered from the suretyany amount in respect of any debt or demand due to it from the principal debtoras a result of the default of the principal debtor, whether such debt or demandis admitted or not;

(3) If any question arises whether adispute referred to the Central Registrar is or is not a dispute touching theconstitution, management or business or a multi-State Co-operative society, thedecision thereon of the Central Registrar shall be final and shall not becalled in question in any court.

75.Limitation:(1) Notwithstanding anythingcontained in the Limitation Act, 1963(36 of 1963), but subject to the specificprovisions made in this Act, the period of limitation in the case of a disputereferred to the Central Registrar.

(a) when the dispute relates to therecovery of any sum including interest thereon due to a multi-StateCo-operative society by a member thereof, be computed from the date on whichsuch member dies or ceases to be a member of the society;

(b) save as otherwise provided in clause(c), when the dispute relates to any act or omission on the part of any of theparties referred to in clause (b) or clause (c) of sub-section (1) of section74, be six years from the date on which the act or omission, with reference towhich the dispute arose, took place;

(c) when the dispute relates to amulti-State Co-operative society which has been ordered to be wound up undersection 77 or in respect of which an administrator has been appointed undersection 48, be six years, from the date of the order issued under section 77 orsection 48, as the case may be:

(d) when the dispute is in respect of anelection of an officer of a multi-State Co-operative society, be one month fromthe date of the declaration of the result of the election.

(2) The period of limitation in the case ofany dispute, except those mentioned in sub-section (1), which are required tobe referred to the Central Registrar shall be regulated by the provisions ofthe Limitation Act, 1963(36 of 1963), as if the dispute were a suit and theCentral Registrar a civil Court.

76.Settlement of disputes: (1) The CentralRegistrar may, on receipt of the reference of dispute under section 74, –

(a) elect to decide the dispute himself; or

(b) transfer it for disposal to any otherperson who has been invested by the Central Government with powers in thatbehalf.

(2) The Central Registrar may withdraw anyreference transferred under clause (b) of sub-section (1) and decide it himselfor refer the same for decision to any other person who has been invested by theCentral Government with powers in that behalf.

(3) The Central Registrar or any otherperson to whom a dispute is referred for decision under this section may,pending the decision of the dispute, make such interlocutory orders as he maydeem necessary in the interest of justice.

CHAPTER IX

WINDING UP OF MULTI-STATE CO-OPERATIVESOCIETIES

77.Winding up of multi-State Co-operativesocieties: (1) If the Central Registrar, after an inquiry has been held undersection 69 or an inspection has been made under section 70, or on receipt of anapplication made by not less than three-fourths of the members of a multi-StateCo-operative society, is of opinion that the society ought to be wound up, hemay, after giving the society, a reasonable opportunity of making itsrepresentation, by order, direct it to be wound up.

(2) The Central Registrar may, of his ownmotion and after giving the multi-State Co-operative society a reasonableopportunity of making its representations, make an order directing the windingup of the multi-State Co-operative society-

(a) where it is a condition of theregistration of the society that the society shall consist of at least fiftymembers and the number of members has been reduced to less than fifty; or

(b) where the multi-State Co-operativesociety has not commenced working within a period of six months of the date ofits registration or such extended period as the Central Registrar may allow inhis behalf or has ceased to function in accordance with co-operativeprinciples.

(3) The Central Registrar may cancel anorder for the winding up of a multi-State Co-operative society, at any time, inany case where, in his opinion, the society should continue to exist.

(4) A copy of such order shall becommunicated by registered post to the multi-State Co-operative society and tothe financial institutions, if any, of which the society is a member.

(5) Notwithstanding anything contained inthis section, no co-operative bank shall be wound up except with the previoussanction in writing of the Reserve Bank.

78.Winding up of co-operative banks at thedirection of Reserve Bank: Notwithstanding anything to the contrary containedelsewhere in this Act, the Central Registrar shall make an order for thewinding up of a co-operative bank, if so required by the Reserve Bank in thecircumstances mentioned in section 13D of the Deposit Insurance and CreditGuarantee Corporation Act, 1961 (47 of 1961).

79.Reimbursement to the Deposit InsuranceCorporation by liquidator: Where a co-operative bank, being an insured bankwithin the meaning of the Deposit Insurance and Credit Guarantee CorporationAct, 1961(47 of 1961), is wound up and the Deposit Insurance Corporation hasbecome liable to the depositors of the ensured bank under sub-section (1) ofsection 16 of that Act, the Deposit Insurance Corporation shall be reimbursedby the liquidator or such other person in the circumstances, to the extent andin the manner provided in section 21 of that Act.

80.Liquidator: (1) Where the CentralRegistrar has made an order under section 77 for the winding up of amulti-State Co-operative society, the Central Registrar may appoint aliquidator for the purpose and fix his remuneration.

(2) A liquidator shall, on appointment,take into his custody or under his control all the property, effects andactionable claims to which the multi-State Co-operative society is or appearsto be entitled and shall take such steps as he may deem necessary or expedientto prevent loss or deterioration of, or damage to, such property, effects, andclaims and he may carry on the business of the multi-State Co-operative societyso far as may be necessary with the previous approval of the Central Registrar.

(3) Where an appeal is preferred underclause (k) of sub-section (1) of section 90, an order for the winding up of amulti-State Co-operative society made under section 77 shall not operatethereafter until the order is confirmed in appeal:

Provided that the liquidator shall continueto have custody or control of the property, effects an actionable claimsmentioned in sub-section (2) and have authority, to take the steps referred toin that sub-section

(4) Where an order for the winding up of amulti-State Co-operative society is set aside in appeal, the property, effectsand actionable claims of the society shall re-vest in the society.

81.Powers of liquidator: (1) Subject to anyrules made in this behalf, the whole of the assets of a multi-State Co-operativesociety in respect of which an order for winding up has been made, shall vestin the liquidator appointed under section 80 from the date on which the ordertakes effect and the liquidator shall have power to realise such assets by saleor otherwise.

(2) Such liquidator shall also have power,subject to the control of the Central Registrar-

(a) to institute and defend suits and otherlegal proceedings on behalf of the multi-State Co-operative society by the nameof his office;

(b) to determine from time to time thecontribution (including debts due and costs of liquidation) to be made orremaining to be made by the members or past members or by the estates ornominees, heirs or legal representatives of deceased members or by any officersor former officers, to the assets of the multi-State Co-operative society;

(c) to investigate all claims against themulti-State Co-operative society and subject to the provisions of this Act, todecide question of priority arising between claimants;

(d) to pay claims against the multi-StateCo-operative society including interest up to the date of winding up accordingto their respective priorities, if any, in full or rateably, as the assets ofthe society may permit; the surplus, if any, remaining after payment of theclaims being applied in payment of interest from the date of such order ofwinding up at a rate fixed by him but not exceeding the contract rate in anycase;

(e) to determine by what persons and inwhat proportions the costs of the liquidation are to be borne;

(f) to determine whether any person is amember, past member or nominee of a deceased member;

(g) to give such directions in regard tothe collection and distribution of the assets of the multi-State Co-operativesociety as may appear to him to be necessary for winding up the affairs of thatsociety;

(h) to carry on the business of themulti-State Co-operative society so far as may be necessary for the beneficialwinding up of the same;

(i) to make any compromise or arrangementwith creditors or persons claiming to be creditors or having or alleging tohave any claim, present or future, whereby the multi-State Co-operative societymay be rendered liable;

(j) to make any compromise or arrangementwith any person between whom and the multi-State Co-operative society thereexists any dispute and to refer any such dispute for decision;

(k) after consulting the members of themulti-State Co-operative society , to dispose of the surplus, if any remainingafter paying the claims against the society, in such manner as may beprescribed;

(l) to compromise all calls or liabilitiesto calls and debts and liabilities capable of resulting in debts, and allclaims present or future, certain or contingent, subsisting or alleged to besubsisting between the multi-State Co-operative society and a contributory orother debtor or person apprehending liability to the multi-State Co-operativesociety and all questions in any way relating to or affecting the assets or thewinding up of the society on such terms as may be agreed and take any securityfor the discharge of any such call, liability, debt or claim and give acomplete discharge in respect thereof.

(3) When the affairs of a multi-StateCo-operative society have been wound up, the liquidator shall make a report tothe Central Registrar and deposit the records of the society in such place asthe Central Registrar may direct.

82.Disposal of surplus assets: The surplusassets, as shown in the report of a liquidator of a multi-State Co-operativesociety which is wound up, –

(a) may, if the bye-laws of the multi-StateCo-operative society specify the purpose for which surplus shall be utilised,be utilised by the Central Registrar for the said purpose, and

(b) if the bye-laws aforesaid do notspecify the purpose, be divided by the Central Registrar with the previoussanction of the Central Government amongst the members of such multi-StateCo-operative society in such manner as may be prescribed.

83.Priority of contributions assessed byliquidator: Notwithstanding anything contained in any law relating toinsolvency, the contribution assessed by a liquidator shall rank next to debtsdue to the Central Government or a State Government or a local authority inaccordance with the order of priority in insolvency proceedings.

84.Power of Central Registrar to Cancelregistration of a multi-State co-operative society: (1) The Central Registrarmay, after considering the report of the liquidator made to him undersub-section (3) of section 81, order the registration of the multi-StateCo-operative society to be cancelled and on such cancellation, that societyshall stand dissolved.

(2) An order passed under sub-section (1)shall be communicated by registered post to the president of the multi-StateCo-operative society and to be financial institutions, if any, of which thesociety was a member.

CHAPTER X

EXECUTION OF DECREES, ORDERS AND DECISIONS

85.Execution of decisions, etc.: Everydecision of order made under section 30, section 31, section 73, section 76,section 90, section 92 or section 93 shall, if not carried out, –

(a) on a certificate signed by the CentralRegistrar or any person authorised by him in writing in this behalf, be deemedto be a decree of a civil Court and shall be executed in the same manner as ifit were a decree of such court; or

(b) where the decision or order providesfor the recovery of money, be executed according to the law for the time beingin force for the recovery of arrears of land revenue:

Provided that any application for therecovery in such manner of any sum shall be made-

(i) to the Collector and Shall beaccompanied by a certificate signed by the Central Registrar or by any personauthorised by him in writing in this behalf;

(ii)within twelve years from the date fixed in the decisions or order and if nosuch date is fixed, from the date of the decision or order, as the case may be:or

(c) be executed by the Central Registrar orany person authorised by him in writing in this behalf, by attachment and saleor sale without attachment of any property of the person or a multi-StateCo-operative society against whom the decision or order has been made.

86.Execution of orders of liquidator: Everyorder made by the liquidator under section 81 shall be executed according to thelaw for the time being in force for the recovery of arrears of land revenue.

87.Attachment before award: (1) Where theCentral Registrar is satisfied that a party to any reference made to him undersection 74 with intent to defeat or delay the execution of any decision thatmay be passed thereon is about to-

(a) dispose of the whole or any part of theproperty; or

(b) remove the whole or any part of theproperty from its costing precincts the Central Registrar may, unless adequatesecurity is furnished, direct conditional attachment of the said property orsuch part thereof as he thinks necessary.

(2) The attachment under sub-section (1)shall be executed by a civil court having jurisdiction in the same way as anattachment order passed by itself and shall have the same effect as such order.

88.Central Registrar or the personauthorised by him to be civil court for certain purposes: The Central Registraror any person authorised by him in writing in this behalf shall be deemed, whenexercising any powers under this Act for the recovery of any amount by theattachment and sale or by sale without attachment of any property, or whenpassing any order on any application made to him for such recovery or fortaking as step-in-aid of such recovery, to be a civil court of the purposes ofarticle 136 of the Schedule to the Limitation Act, 1963(36 of 1963).

89.Recovery of sums due to Government: (1)All sums due from a multi-State Co-operative society, or from an officer ormember or past member of a multi-State Co-operative society, to the CentralGovernment or a State Government, including any cost awarded to the CentralGovernment or the State Government, as the case may be, under any provisions ofthis Act, may on a certificate issued by the Central Registrar in this behalf,be recovered in the same manner as arrears of land revenue.

(2) Sums due from a multi-StateCo-operative society to the Central Government or a State Government andrecoverable under sub-section (1) may be recovered firstly from the property ofthe society and secondly from the members, past members or the estates ofdeceased members, subject to the limit of their liability:

Provided that the liability of past membersand the estate of deceased members shall in all cases be subject to the provisionsof section 28.

CHAPTER XI

APPEALS AND REVISION

90.Appeals: (1) Subject to the provisionsof section 91, an appeal shall be lie under this Section against-

(a) an order made by the Central Registrarunder sub-section (2) of section 7 refusing to register a multi-StateCo-operative society ;

(b) an order made by the Central Registrarunder sub-section (4) of section 9 refusing to register an amendment of thebye-laws of a multi-State Co-operative society;

(c) a decision of a multi-State Co-operativesociety refusing or deemed to be refusing under sub-section (5) of section 19to admit any person as a member of the society who is otherwise duly qualifiedfor membership under the bye-laws of the society;

(d) a decision of a multi-State Co-operativesociety under sub-sections (1) of section 21 expelling any of its members;

(e) a decision of a multi-StateCo-operative society removing an elected member of a board under section 39;

(f) an order made by the Central Registrarunder section 40 removing a member from his office;

(g) an order made by the Central Registrarunder 48 superseding the board of directors of a multi-State Co-operativesociety:

(h) an order made by the Central Registrarunder section 71 apportioning the costs of an inquiry held under section 69 oran inspection made under section 70;

(i) an order made under sub-section (2) ofsection 73;

(j) a decision or order made under section76;

(k) an order made by the Central Registrarunder section 77 directing the winding up of a multi-State Co-operativesociety;

(l) an order made by the liquidator of amulti-State Co-operative society under section 81;

(m) an order under section 87 directingattachment of property before award.

(2) An appeal against any decision or orderunder sub-section (1 0 shall be made within sixty days from the date of suchdecision or order, –

(a) if the decision or order was made bythe Central Registrar, to the prescribed authority;

(b) if the decision was made by amulti-State co-operative society (other than a national co-operative society),or a liquidator of such society, to the officer who is empowered to exercisethe powers of the Central Registrar under sub-section (2) of section 4; or

(c) if the decision was made by a nationalco-operative society or a liquidator of such society, to the Central Registrarappointed under section (1) of section 4.

(3) The appellate authority may, ifsatisfied that the appellant was prevented by sufficient cause from preferringthe appeal within the period of sixty days, admit the appeal within suchfurther period not exceeding sixty days as that authority may deem fit.

(4) In disposing of an appeal under thissection, the appellate authority may, after giving the parties a reasonableopportunity of making their representations, pass such order thereon as thatauthority may deem fit.

(5) The decision or order of the appellateauthority on appeal shall be final.

91.No appeal or revision in certain cases:Notwithstanding anything contained in this Act, where with the previoussanction in writing of, or an requisition by, the Reserve Bank, a co-operativebank-

(a) is being wound up; or

(b) in respect of which a scheme ofamalgamation or reorganisation is given effect to; or

(c) in respect of which an order for thesupersession of the board and the appointment of an administrator therefor hasbeen made,

no appeal, revision or review there againstshall lie or be permissible, and the sanction or requisition of the ReserveBank shall not be liable to be called in question.

92.Revision: (1) Subject to the provisionsof section 91, the Central Government may, of its own motion or on anapplication, call for and examine the records of any proceedings in which noappeal lies to the appellate authority under section 90 for the purpose ofsatisfying itself as to the legality or propriety of any decision or order madeunder this Act and if in any case it shall appear to the Central Governmentthat any such decision or order should be modified annulled or revised or remittedfor reconsideration, the Central Government may, after giving the party to beaffected thereby a reasonable opportunity of being heard, pass such orderthereon as it may deem fit:

Provided that the application to theCentral Government for the exercise of the power under this section shall bepreferred within ninety days from the date on which the decision or order towhich the application relates was communicated to the applicant:

Provided further that the CentralGovernment may, if satisfied that the appellant was prevented by sufficientcause from making the application within the said period of ninety days, admitthe application after the expiry of the said period.

(2) The Central Government may suspend theexecution of the decision or order pending the exercise of its power undersub-section (1) in respect thereof.

(3) The Central Government may award costsin proceeding under this section to be paid out of the funds of the multi-StateCo-operative society concerned or by such party to the application for revisionas the Central Government may deem fit.

93.Review: (1) The Appellate authorityunder section 90 may, on the application of any party interested, review itsown order in any case and pass in reference thereto such order as it thinksfit:

Provided that no such application shall beentertained unless the appellate authority is satisfied that there has been adiscovery of new and important matter or evidence which after exercise of duediligence was not within the knowledge of the applicant or could not beproduced by him at the time when the order was made or that there has been somemistake or error apparent on the face of the record or for any other sufficientreason:

Provided further that no such order shallbe made under this sub-section unless notice has been given to all interestedparties and they have been afforded a reasonable opportunity of being heard.

(2) An application for review undersub-section (1) by any party shall be made within thirty days from the date ofcommunication of the order of the appellate authority sought to be reviewed.

94.Interlocutory orders: Where an appeal ismade under section 90 or where the Central Government calls for the records ofa case under section 92, the appellate authority or the Central Government, asthe case may be, may, an order to prevent the ends of justice being defeated,make such interlocutory orders, including an order of stay, pending thedecision of the appeal or revision as such authority or the Central Governmentmay deem fit.

CHAPTER XII

SOCIETIES WHICH BECOMES MULTI-STATECO-OPERATIVE SOCIETIES CONSEQUENT ON REORGANISATION OF STATES

95.Co-operative societies functioningimmediately before re-organisation of States: (1) Where by virtue of theprovisions of Part II of the State Reorganisation Act, 1956(37 of 1956), or anyother enactment relating to reorganisation of States, any co-operative societywhich immediately before the day on which the reorganisation takes place, hadits objects confined to one State becomes, as from that day, a multi-StateCo-operative society, it shall be deemed to be a multi-State Co-operativesociety registered under the corresponding provisions of this Act and thebye-laws of such society shall, in so far as they are not inconsistent with theprovisions of this Act, continue to be in force until altered or rescinded.

(2) If it appears to the Central Registraror any office authorised in this behalf by the Central Government (hereafter inthis section referred to as the authorised officer) that it is necessary orexpedient to reconstitute or reorganise any society referred to in sub-section(1), the Central Registrar or the authorised officer, as the case may, with theprevious approval of the Central Government, place before a meeting of thegeneral body of that society, held in such manner as may be prescribed, ascheme for the reconstitution or reorganisation, including proposals regarding-

(a) the formation of new multi-StateCo-operative societies and the transfer thereto in whole or in part, of theassets and liabilities of that society, or

(b) the transfer, in whole or in part, ofthe assets and liabilities of that society to any other multi-StateCo-operative society in existence immediately before the date of that meetingof the general body (hereafter in this section referred to as the existingmulti-State Co-operative society).

(3) If the scheme is sanctioned by aresolution passed by a majority of the members present at the said meeting,either without modifications or with modifications to which the CentralRegistrar or the authorised officer agrees, he shall certify the scheme andupon such certification, the scheme shall, notwithstanding anything to thecontrary contained in any law, regulation or bye-laws for the time being inforce, be binding on all the societies affected by the scheme, as well as theshareholders and creditors of all such societies.

(4) If the scheme is not sanctioned undersub-section (3), the Central Registrar or the authorised officer may refer thescheme to such Judge of the appropriate High Court, as may be nominated in thisbehalf by the Chief Justice thereof, and the decision of that Judge in regardto the scheme shall be final and shall be binding on all the societies affectedby the scheme as well as the shareholders and creditors of all such societies.

Explanation: In this sub-section ,"appropriate High Court" means the High Court within the local limitsof whose jurisdiction the principal place of business of the multi-StateCo-operative society is situated.

(5) Notwithstanding anything contained inthis section, where a scheme under sub-section (2) includes any proposalregarding the transfer of the assets and liabilities of any multi-StateCo-operative society referred to in clause (b) thereof, the scheme shall not bebinding on such multi-State Co-operative society or the shareholders andcreditors thereof, unless the proposal regarding such transfer is accepted bythat multi-State Co-operative society by a resolution passed by a majority ofthe members present at a meeting of its general body.

CHAPTER XIII

OFFENCES AND PENALTIES.

96.Offences: (1) A multi-State Co-operativesociety or an officer or member thereof wilfully making a false return orfurnishing false information, or any person wilfully or without any reasonableexcuse disobeying any summons, requisition or lawful written order issued underthe provisions of this Act, or wilfully not furnishing any information requiredfrom him by a person authorised in this behalf under the provisions of this Actshall be punishable with fine which may extend to two hundred rupees.

(2) Any employer who without sufficientcauses, fails to pay to a multi-State Co-operative society the amount deductedby him under section 58 within a period of fourteen days from the date on whichsuch deduction is made, shall, without prejudice to any action that may betaken against him under any other law for the time being in force, bepunishable with fine which may extend to five hundred rupees.

(3) Any officer or custodian who wilfullyfails to hand over custody of books, accounts, documents, records, cash,security and other properly belonging to a multi-State Co-operative society ofwhich he is an officer or custodian, to a person entitled under section 49,section 67, section 68, section 69 or section 80 shall be punishable with finewhich may extend to two hundred rupees and in the case of a continuing breach,with a further fine which may extend to five hundred rupees for every dayduring which the breach is continued after conviction for the first suchbreach.

97.Cognizance of offences: (1) No courtinferior to that of a Metropolitan Magistrate or a Judicial Magistrate of thefirst class shall try any offence under this Act.

(2) No prosecution shall be instituted underthis Act, without the previous sanction of the Central Registrar and suchsanction shall not be given without giving to the person concerned a reasonableopportunity to represent his case.

CHAPTER XIV

MISCELLANEOUS

98.Copy of Act, rules and bye-laws etc., tobe open to inspection: Every multi-State Co-operative society shall keep a copyof this Act the rules and its bye-laws and also a list of its members, open toinspection free of charge at all reasonable times at the registered address ofthe society.

99.Power to exempt multi-State co-operativesocieties from conditions as to registration: (1) Notwithstanding anythingcontained in this Act, the Central Government may, by general or special order,for reasons to be recorded therein and subject to such conditions, if any, asmay be specified therein exempt any multi-State Co-operative society or classof such societies from any of the requirement of this Act relating toregistration.

(2) (a)The Central Government may, by general or special order and for reasons to berecorded therein, –

(i) exempt any multi-State Co-operativesociety or any class of such societies from any of the provisions of this Actor of the rules; or

(ii) direct that such provisions shallapply to such society or class of societies with such modifications notaffecting the substance thereof as may be specified in the order:

Provided that no order shall be made undersub-clause (ii) so as to prejudice the interests of such society or class ofsuch societies without a reasonable opportunity being given to makerepresentation in the matter.

(b) Every order made under clause (a) shallbe punished in the official Gazette.

100.Liquidator to be public servant: Anyperson appointed as liquidator under the provisions of this Act shall be deemedto be a public servant within the meaning of section 21 of the Indian PenalCode(45 of 1860).

101.NO.tice necessary in suits: No suitshall be instituted against a multi-State Co-operative society or any of itsofficers in respect of any act touching the constitution, management or thebusiness of the society until the expiration of ninety days next after noticein writing has been delivered to the Central Registrar or left at his office,stating the cause of action, the name, description and place or residence ofthe plaintiff and the relief which he claims, and the plaint shall contain astatement that such notice has been so delivered or left.

102.Certain Acts not to apply: (1) Theprovisions of the Companies Act, 1956(1 of 1956) and the Monopolies andRestrictive Trade Practices Act, 1969(54 of 1969) shall not apply tomulti-State Co-operative societies.

(2) The multi-State Co-operative societyregistered or deemed to be registered under the provisions of this Act shallnot indulge in monopolistic and restrictive trade practice, as defined in theMonopolies and Restrictive Trade Practice Act, 1969(54 of 1969).

103.Savings of existing multi-Stateco-operative societies: (1) Every multi-State Co-operative society existingimmediately before the commencement of this Act which has been registered underthe Co-operative Societies Act, 1912(2 of 1912) or under any other Act relatingto co-operative societies in force in any State or in pursuance of theprovisions of the Multi-unit Co-operative Societies Act, 1942(6 of 1942), shallbe deemed to be registered under the corresponding provisions of this Act, andthe bye-laws of such society shall, in so far as they are not inconsistent withthe provisions of this Act, or the rules, continue to be in force until alteredor rescinded.

(2) All appointments, rules and order made,all notifications and notices issued and all suits and other proceedingsinstituted under any of the Act referred to in sub-section (1) shall, in so faras they are not inconsistent with the provisions of this Act, be deemed to havebeen respectively made, issued and instituted under his Act, save that an ordermade cancelling the registration of a multi-State Co-operative society shall bedeemed, unless the society has already been finally liquidated, to be an ordermade under section 77 for its being wound up.

104.Power to amend Second Schedule: (1) Ifthe Central Government is satisfied that any multi-State Co-operative societyshould be designated as a national co-operative society or any nationalco-operative society specified in the Second Schedule should be omitted fromthe said Schedule, it may, by notification, amend the said Schedule so as toinclude therein such multi-State Co-operative society or exclude therefrom suchnational co-operative society, and thereupon the said Schedule shall be deemedto have been amended accordingly.

(2) A copy of every notification made undersub-section (1) shall be laid before each House of Parliament as soon as may beafter it is made.

105.Bar of Jurisdiction of courts: (1) Saveas otherwise provided in this Act, no court shall have jurisdiction in respectof-

(a) the registration of a multi-StateCo-operative society or its bye-laws or of an amendment of the bye-laws;

(b) the removal of board of directors;

(d) any matter concerning the winding upand the dissolution of a multi-State Co-operative society.

(2) While a multi-State Co-operativesociety is being wound up, no suit or other legal proceeding relating to thebusiness of such society shall be proceeded with or instituted against theliquidator or against the society or any member thereof, except by leave of theCentral Registrar and subject to such terms and conditions as he may impose.

(3) Save as otherwise provided in this Act,no decision or order made under this Act shall be questioned in any court.

106.Powers of civil Court: (1) Inexercising the functions conferred on him by or under this Act, the CentralRegistrar, or any other person deciding a dispute under section 76 and theliquidator of a multi-State Co-operative society and a person entitled toaudit, inspect or hold an inquiry under this Act, shall have all the powers ofa civil court, while trying a suit, under the Code of Civil Procedure, 1908(5of 1908), in respect of the following matters, namely: –

(a) summoning and enforcing the attendanceof any person and examining him on oath;

(b) requiring the discovery and production ofany document.

(d) requiring commissions for examinationof witnesses.

(2) In the case of an affidavit, anyofficer appointed by the Central Registrar, or any other person deciding adispute or the liquidator, as the case may be, may administer oath to thedeponent.

107.Indemnity: No suit, prosecution orother legal proceedings shall lie against Central Registrar or any personssubordinate to him or acting on this authority or against any other person inrespect of anything in good faith done or purporting to have been done underthis Act.

108.Opening of branches: (1)Notwithstanding anything contained to the contrary in any law relating toco-operative societies in force in a State, a multi-State Co-operative society,not being co-operative bank, may open branches or places of business in anyplace in India.

(2) Where a multi-State Co-operativesociety opens branches or places of business in any State under sub-section(1), the Registrar of Co-operative Societies in such State shall not exerciseany jurisdiction in relation to such branches or places of business nor shallcall for any returns or information therefrom.

109.Power to make rules: (1) The CentralGovernment may, by notification, make rules to carry out the provisions of thisAct.

(2) In particular, and without prejudice tothe generality of the foregoing power, such rules may provided for all or anyof the following matters, namely: –

(i) the form to be used, the particulars tobe given and the conditions to be complied with in the making of applicationsunder section 6 for the registration of a multi-State Co-operative society andthe procedure in the matter of such applications;

(ii) the number of the applicants and themanner in which the order of refusal to register a multi-State Co-operativesociety and its bye-laws shall be communicated under sub-section (2) of section7;

(iii) the manner in which the order ofrefusal to register any amendment of the bye-laws shall be communicated undersub-section (4) of section 9 and section 18;

(iv) the procedure and conditions forchange in the extent of the liability of a multi-State Co-operative societyunder section 13;

(v) the matter in respect of which amulti-State Co-operative society may make bye-laws and the procedure to thefollowed in making, altering and abrogating bye-laws under section 9 or section18 and the conditions to be satisfied prior to such making alteration orabrogation;

(vi) the conditions to be complied withunder section 19 by persons applying for admission as members, for the electionand admission of members and the payment to be made and the interest to beacquired before the exercise of the right of membership;

(vii) the number of individuals who may beadmitted as members of the National Co-operative Union of India Limited, NewDelhi as required by section 19 and their qualifications;

(viii) the withdrawal and expulsion ofmembers and the payments, if any, to be made to members who withdraw or areexpelled and the liability of past members of the estates of deceased members;

(ix) the votes of members, as required bysection 22;

(x) the maximum number of shares of amulti-State Co-operative society which may, subject to the provisions ofsection 24, be held by a number;

(xi) the constitution and powers of asmaller body representing the general body under section 29;

(xii) general meeting of the members undersection 30, the period within which such meeting be called and the procedure atsuch meetings and the powers to be exercise by such meetings;

(xiii) the proportion of individuals andmulti-State Co-operative societies in the constitution of the board ofdirectors and the general body under section 32.

(xiv) the election of members of the boardsunder section 35 and nomination of members to such boards under section 41, theappointment or election of officers and the powers to be exercised and theduties to be performed by the boards and other officers;

(xv) the restrictions and conditionssubject to which honorarium may be paid under section 38 to the electedchairman or president of the board of directors for service rendered;

(xvi) the additional measures and actswhich may be taken or, as the case may be, done by the board under section 42;

(xvii) the number of meetings of the board,the venue of such meetings and the number of committees or sub-committees forpurposes of section 43 and 46;

(xviii) the appointment and regulation ofwork entrusted to persons replacing the board in pursuance of section 48;

(xix) the constitution of a body of personsunder section 50 for the preparation of a list of persons eligible forappointment to the posts of Chief Executives and other management posts innational co-operative societies and the amount of the maximum pay-scale applicableto such posts;

(xx) the recruitment, remuneration,allowances and other conditions of service of officers and other employees ofnational co-operative societies under section 50;

(xxi) prohibiting a multi-StateCo-operative society from electing a defaulting member, or a representative ofdefaulting member society, on its board;

(xxii) the returns to be submitted by amulti-State Co-operative society to the Central Registrar, the persons by whomand the form in which such returns shall be submitted and in case of failure tosubmit any such returns, the levy of expenses of preparing it;

(xxiii) the persons by whom and the form inwhich copies of entries in books of multi-State Co-operative society may becertified under section 56 and the charges to be levied for the supply of suchcopies;

(xxiv) the terms and conditions on whichthe Central Government may make share-capital contribution or give financial orother assistance to multi-State Co-operative society under section 59 and theterms and conditions on which the Central Government may guarantee the paymentof the principal or interest on debentures issued by multi-State Co-operativesociety or loans or deposits raised by them;

(xxv) the procedure to be followed inproceedings before the Central Registrar or other persons deciding disputesincluding the appointment of a guardian for a party to the dispute who is aminor or who, by reason of unsoundness of mind or mental infirmity, isincapable, of protecting his interests, and the levy of expenses relating tosuch proceedings;

(xxvi) the mode in which the value of adeceased member’s share or interest shall be ascertained and the nomination ofa person to whom such share or interest may be paid or transferred;

(xxvii) the payment to be made andconditions to be complied with by members applying for loans, the period forwhich any loans may be made and the maximum amount which may be lent to anymembers;

(xxviii) the formation and maintenance ofreserve funds and other funds under section 61 and the objects to which suchfunds may be applied and the investment of any funds under the control of amulti-State Co-operative society under section 62;

(xxix) the conditions under which profitsmay be distributed under section 61 to the members of a multi-StateCo-operative society and the maximum rate of dividend which may be paid bymulti-State Co-operative societies;

(xxx) the prohibitions and restrictionssubject to which multi-State Co-operative societies may, under section 65,transact business with persons who are not members;

(xxxi) the account and books to be kept bya multi-State Co-operative society and the audit of such accounts and thecharges, if any, to be made for such audit under section 67 and the periodicalpublication of a balance-sheet showing the assets and liabilities of amulti-State Co-operative society;

(xxxii) the calculation and writing off ofbad debts by multi-State Co-operative societies;

(xxxiii) the appointment of persons forsettlement of disputes under sections 76;

(xxxiv) the procedure to be followed by aliquidator appointed under section 80 in respect of provisions of section 81;

(xxxv) the manner in which the surplusassets may be divided amongst the members of the multi-State Co-operativesociety under section 82;

(xxxvi) the procedure for execution ofdecisions under section 85;

(xxxvii) the procedure to be followed inpresenting and disposing of appeals under section 90;

(xxxviii) the issue and service of processand for proof of service thereof;

(xxxix) the manner of effecting attachment;

(xl) the custody, preservation and sale ofproperty under attachment;

(xli) the investigation of claim by personsother than the defaulter to any right or interest in the attached property, andthe postponement of sale pending such investigation;

(xlii) the immediate sale of perishablearticles;

(xliii) the inspection of documents in theoffice of the Central Registrar or of any other office or authority and thelevy of fees for granting certified copies of the same.

(xliv) the manner in which funds may beraised by a multi-State Co-operative society or a class of multi-StateCo-operative societies by means of shares or debentures or other wise and thequantum of funds so raised.

(xlv) the procedure under section 95 ofreconstitution and re-organisation of societies which become multi-StateCo-operative societies consequent on re-organisation of a State;

(xlvi) the method of communicating orpublishing any decision or order required to be communicated or published underthis Act or the rules;

(xlvii) the manner and the periodicity ofreturns of pending cases of registration of multi-State Co-operative societiesand amendments of bye-laws to be sent by the Central Registrar to the CentralGovernment;

(xlviii) any other matter which is requiredto be, or may be prescribed.

(3) Every rule made under this sectionshall be laid, as soon as may be after it is made, before each House ofParliament, while it is in session, for a total period of thirty days which maybe comprised in one session or in two or more successive sessions, and if,before the expiry of the session immediately following the session or thesuccessive sessions aforesaid, both Houses agree in making any modification tothe rule or both Houses agree that the rule should not be made, the rule shallthereafter have effect only in such modified form or be of no effect, as thecase may be; so, however, that any such modification or annulment shall bewithout prejudice to the validity of anything previously done under that rule.

110.Repeal: The Multi-Unit Co-operativeSocieties Act, 1942 (6 of 1942), is hereby repealed.

THE FIRST SCHEDULE

[See Section 3 (f)]

CO-OPERATIVE PRINCIPLES

1.Membership of a multi-State Co-operativesociety (hereafter in this Schedule referred to as the society) should bevoluntary and open, without any social, political, or religious discrimination,to all persons who can make use of its services.

2.In a society other than that withinstitutional membership, individual member should enjoy equal rights of voting-one member, one vote.

3. (i)Surplus or savings, if any, arising out of the operations of the society belongto the society as a whole, and on individual member has a claim to the surplus.

(ii) The surplus should be utilised for allor any of the following purposes, namely: –

(a) Providing for development of thebusiness of the society.

(b) providing service for the commonenjoyment of members;

4.The society should undertake education ofits members, office-bearers and employees and the general public regarding theprinciples and practice of co-operative.

5.The society should actively co-operate inevery practical way with other co-operative societies at local, national orinternational levels.

6.The share capital of a society shallreceive strictly limited rate of interest (that is to say dividend).

7.The affairs of a society should beadministered by the management in accordance with democratically expressed willof the members.

8.The management of the society isaccountable to its own members.

THE SECOND SCHEDULE

[See sections 3 (m) and 104]

LIST OF NATIONAL CO-OPERATIVE SOCIETIES

1.National Co-operative Land Development BanksFederation Limited, Hyderabad.

2.National Federation of State Co-operativeBanks Limited, Bombay.

3.National Co-operative Union of IndiaLimited, New Delhi.

4.National Agricultural Co-operativeMarketing Federation of India Limited, New Delhi.

5.National Co-operative Consumers’Federation of India Limited,New Delhi.

6.National Federation of Co-operative SugarFactories Limited, New Delhi.

7.National Co-operative of IndustrialCo-operative Limited, New Delhi.

8.National Co-operative Housing FederationLimited, New Delhi.

9.Indian Farmers’ Fertiliser Co-operativeLimited, New Delhi.

10.All India Federation of Co-operativeSpinning Mills Limited, Bombay.

11.All India Industrial Co-operative Banks’Federation Limited, Bangalore.

12.National Co-operative Dairy Federationof India Limited, New Delhi.

13.Petron Co-operative Limited, New Delhi.

14.National Heavy Engineering Co-operativeLimited, New Delhi,

15.The All India Handloom Fabrics MarketingCo-operative Society Limited, Bombay.

16.The National Federation of UrbanCo-operative Banks and Credit Societies Limited, New Delhi.

17.Krishak Bharati Co-operative Limited, New Delhi.

18.National Federation of Fisherman’sCo-operative Limited, Bombay.

19.National Federation of LabourCo-operative Limited, New Delhi.

20.National Co-operative Tobacco Growers’Federation Limited, Anand.

MULTI-STATE CO-OPERATIVE SOCIETIES ACT 1984

Search Judgments

LATEST UPDATES

CATEGORIES

MULTI-STATE CO-OPERATIVE SOCIETIES ACT 1984

Related

Search Judgments

LATEST UPDATES

CATEGORIES