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Repayment, etc.
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.... is or has at any time been an officer or an employee of the society, has made any payment contrary to this Act, or the bye‑laws or has caused any deficiency in the assets of the society by breach of trust or wilful negligence or has misappropriated or fraudulently retained any money or other property belonging to such society, the Central Registrar may, of his own motion or on the applicati....