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of <h1>Central Government Can Supersede Co-Op Board Under Section 123 for Negligence or Misconduct; Requires Consultation & Objection Opportunity.</h1> Under Section 123 of the Multi-State Co-Operative Societies Act, 2002, the Central Government can supersede or suspend the board of a specified multi-State co-operative society if it is negligent, defaults in duties, or acts against the society's interests. The government must provide the board an opportunity to object before appointing administrators to manage the society for up to six months. Administrators can exercise board functions under government control and must arrange for a new board before their term ends. If the society owes a financial institution, consultation is required before action. A specified society involves government financial involvement.
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