Section 103(1) in Assam Co-Operative Societies Act, 2007
(1)Where, as the result of an audit under Section 81 or an inquiry under Section 87 or an inspection under Section 88 or a report made in the course of the winding up of a registered society, it appears to the Registrar that any member, officer or employee past or present, of the society has at any time within a period of four years prior to the date of such audit, inspection, inquiry or report, as the case may be-(a)intentionally, whether individually or as an assenting member of any managing or other controlling body, made or authorized any payment or granted any loan which is contrary to the provision of this Act or to the Rules or Bye-laws or failed to take timely steps to recovery any loan at the due date or it was being improperly utilized: or(b)was grossly negligent in respect of any loss or deficiency;(c)failed to bring into account any sum which ought to have been brought into account; or(d)misappropriated or fraudulently retained any property of the society; or(e)committed breach of trust in relation to the society, the Registrar may inquire into the conduct of such officer or members of the managing or other controlling body.
