Section 81A(2) in The M.P. Co-Operative Societies Act, 1960
(2)If the committee of the Co-operative society fails to proceed against its defaulting members within a period of ninety days from the date of receipt of such direction from the financing bank, the financing bank itself may proceed against such defaulting members in which event, the provisions of this Act, the rules and bye-laws made there under shall apply as if all references to the society or its committee in the said provisions, rules and bye-laws were references to the financial bank.
