Section 53(11) in The M.P. Co-Operative Societies Act, 1960
(11)[ Notwithstanding anything contained in this Act, the Registrar shall, in case of Central Co-operative Banks, Urban Co-operative Banks and Primary Co-operative Land Development Banks, if the recovery continuously in three co-operative years is less than 65 per cent of the demand or if the overdues exceed 35 per cent, pass an order for removal of the committee or the Managing Committee by whatever name it is called of the Bank and for appointment of a administrator therefor for such period or periods not exceeding five years in the aggregate, as may be specified by the Registrar and on such appointment, the provisions of sub-sections (4), (5) and (6) shall apply thereto as if an order was passed under sub-section (1):Provided that no such order shall be made unless the committee has been given a reasonable opportunity of showing cause against the proposed order and representation, if any, made by it is considered.] [Substituted by M.P. Act No. 14 of 1976.]
