Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9
Chapter 10
Chapter 11
Chapter 12
Audit, Inquiry, Inspection and Surcharge

53. Audit
  1. The Registrar shall audit or cause to be audited by a person authorized by him by general or special order in writing in this behalf, the accounts of every co-operative society at least once in each year.

  2. The audit under sub-section (1) shall include an examination of overdue debts, if any, the verification of the cash balance and securities, and a valuation of the assets and liabilities of the society.

  3. The person auditing the accounts of a co-operative society shall have free access to the books accounts, papers, vouchers, stock and other property of such society and shall be allowed to verify its cash balance and securities.

  4. The directors, managers, administrators and other officers of the society shall furnish to the person auditing the accounts of a co-operative all such information as to its transactions and working as such person may require.

  5. The Registrar or the person authorized by him under sub-section (1) to audit the accounts of a co-operative society shall have power where necessary.
  1. To summon at the time of his audit any officer, agent, servant or member of the society past or present, who he has reason to believe can give valuable information in regard to transactions of the society or the management of its affairs; and

  2. To require the production of any book or document relating to a the affairs of, or any cash or securities belonging to, the society by any officer, agent, servant, or member in possession of, such books, documents, cash or securities and in the event of serious irregularities discovered during audit, to take them into custody.
     
  3. If at the time to audit the accounts of a society are not complete, the Registrar or the person authorized by him under sub-section (1) to audit, may cause the acco9unts to be written up at the expense of the society.

  4. Audit fee, if any due from co-operative society shall be recoverable in the same manner as is provided in section 75.
54. Inspection of Societies.

The Registrar, or person authorized by general or special order in this behalf by him, may inspect a cooperative society. For the purpose of inspection, the Registrar or the person so authorized by him shall at all times have access to all books accounts papers, vouchers, securities, stock and other property of the society and may in the event of serious irregularities discovered during inspection take them into custody and shall have power to verify the cash balance of the society and subject to the general or special order of the Registrar to call a committee meeting and a general meeting. Ever officer or member of the society shall furnish such information with regard to the working of the society as the Registrar or the person making such inspection may require.

55. Inquiry by Registrar.
  1. The Registrar may of his own motion or on the application of the majority of the committee or of not less than one-third of the members, hold an inquiry or direct some person authorized by him or by order in writing in this behalf to hold an inquiry into the constitution, working and financial condition of a cooperative society.

  2. The Registrar or the person authorized by him under sub-section (1) shall have the following powers, namely -

  3. he shall at all times have, for purpose of examination free access to the books accounts cash and other properties belonging to or in the custody of the society and may summon any person in possession or responsible for the custody of any such books accounts documents, securities cash or other properties to produce the same at any place specified by him.

  4. he may, notwithstanding any rule or bye-law specifying the period of notice for a general meeting of the society require the officers of the society to call a general meeting at such time and place at the headquarters of the society to consider such matter as may be directed by him; and where the officer of the society refuse or fail to call such a meeting, he shall have power to call it himself.

  5. The may summon any person who is reasonably believed by him to have any knowledge of the affairs of the society to appear before him at any place at the headquarters of the society or any branch thereof and may examine such person on oath,

  6. Any meeting called under clause (b) of sub-section (2) shall have all the powers of a general meeting called under the bye-laws of the society and its proceedings shall be regulated by such bye-laws.

  7. The Registrar shall communicate a brief summary of the report of the inquiry to the society, the financing institution, if any, to which the society is affiliated and to the person or authority if any at whose instance the inquiry is made.
56. Inquiry by Registrar
     
  1. The Registrar shall on the application of creditor of a co-operative society inspect or direct some person authorized by him by order in writing in this behalf to inspect the books of the society.
       
     
  2. Provided that no such inspection

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Last Updated : 23 Mar,2014