: - (1) Every Co-operative Society shall furnish any relevant information required by the Registrar in order to enable him to satisfy whether the Co-operative Society has conducted its affairs in accordance with the co-operative principles and the provisions of this Act.(2)The Registrar may, of his own motion, and shall on the application, of a federation to which the Co-operative Society concerned is affiliated, or of a creditor to whom the Co-operative Society is indebted or of not less than one-third of the Director, or of not less than one-tenth of the members, hold an inquiry or cause an inquiry to be made into the specific matter or matters relating to any gross violation of any of the provisions of this Act by the Co-operative Society.(3)The inquiry shall be completed within a period of one hundred and twenty days from the date of ordering the inquiry.(4)If the inquiry is not completed within the time specified in sub-section (3) it shall lapse at the end of the said period and the Registrar shall refund to the applicants, the fee collected from them.(5)The Registrar shall, within a period of thirty days from the date of the completion of the inquiry, as specified in sub-section (3) or of the lapse of the inquiry as specified in sub-section (4), communicate the report of the inquiry or the reasons for the non-completion of the inquiry, as the case may be,-(a)to the Co-operative Society concerned ;(b)to the applicant federation if any ;(c)to the applicant-creditor, if any ;(d)to the person designated by the applicant-directors, if any;(e)to the person designated by the applicant-members, if any;(f)to any person, on payment of fee fixed by the Registrar; and(g)to the Co-operative Tribunal where necessary.(6)The inquiry officer acting under this section shall, among others, specifically state the amount of deficiency, waste or loss which appears to have been caused by the gross negligence or misconduct of any person in the performance of his duties.
