Director ineligibility: restriction on former board members of superseded cooperatives being elected elsewhere for a fixed period. The amendment broadens disqualification for board membership to include prior directorship of an insolvent company and disqualification under other specified Acts, adds a new ground under section 41(7), and bars members who were directors of superseded boards from election to another co operative board for five years unless, after a Central Registrar hearing, they are found responsible for acts or omissions leading to supersession. It further mandates societies to assist the Co operative Election Authority, contribute to education and rehabilitation funds, file annual returns on time, and obtain audits within six months, with an opportunity to be heard before action.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Director ineligibility: restriction on former board members of superseded cooperatives being elected elsewhere for a fixed period.
The amendment broadens disqualification for board membership to include prior directorship of an insolvent company and disqualification under other specified Acts, adds a new ground under section 41(7), and bars members who were directors of superseded boards from election to another co operative board for five years unless, after a Central Registrar hearing, they are found responsible for acts or omissions leading to supersession. It further mandates societies to assist the Co operative Election Authority, contribute to education and rehabilitation funds, file annual returns on time, and obtain audits within six months, with an opportunity to be heard before action.
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