Section 67A(4) in The Gujarat Co-Operative Societies Act, 1961
(4)Notwithstanding anything contained in Section 67-(a)the balance of bad debts, if any, remaining after first writing them off under sub-section (3); and(b)all losses incurred by a society including those suffered on account of settlement of disputes under Section 98 which are certified as such by a certified auditor, may be written off against the reserve fund maintained under Section 67 to the extent of not more than thirty per cent of the balance in that fund :Provided that no bad debt or loss shall be written off against the bad debt fund or, as the case may be, the reserve fund, unless the society in the general meeting passes a resolution approving the same by a majority of total membership of the society and by a majority of not less than two-third of the members of the society present and voting.
