Repayment obligations for society officers: Registrar can order restoration with interest after inquiry and hearing. Section 83 authorises the Central Registrar to inquire into conduct of persons in management or employment of a multi State co operative society where ... Summary
Repayment obligations for society officers: Registrar can order restoration with interest after inquiry and hearing.
Section 83 authorises the Central Registrar to inquire into conduct of persons in management or employment of a multi State co operative society where audit, inspection, inquiry or winding up reveals improper payments, breach of trust, wilful negligence, misappropriation or fraudulent retention; inquiries must be commenced within two years (extendable to six years for fraud or concealment). After a reasonable opportunity of hearing, the Registrar may order repayment or restoration of money or property and direct payment of interest, contributions, costs or compensation as just and equitable.
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