Section 72(2) in The Multi-State Co-Operative Societies Act, 2002
(2)None of the following persons shall be qualified for appointment as auditor of a multi-State co-operative society—(a)a body corporate;(b)an officer or employee of the multi-State co-operative society;(c)a person who is a member, or who is in the employment of an officer or employee, of the multi-State co-operative society;(d)a person who is indebted to the multi-State co-operative society or who has given any guarantee or provided any security in connection with the indebtedness of any third person to the multi-State co-operative society for an amount exceeding one thousand rupees.
