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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Section 83: Accountability for Mismanagement in Multi-State Co-Operative Societies; Penalties for Unauthorized Payments and Fund Misappropriation.</h1> Section 83 of the Multi-State Co-Operative Societies Act, 2002, addresses the repayment and accountability of individuals involved in the management of such societies. If an audit, inquiry, inspection, or winding-up reveals that a person has made unauthorized payments, caused asset deficiencies through breach of trust or negligence, or misappropriated society funds, the Central Registrar can initiate an inquiry within two years, extendable to six years if fraud or concealment is involved. Following the inquiry, the Registrar may order the individual to repay or restore the misappropriated funds or property, with interest, and may impose additional costs or compensation.
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