Section 55(2) in The Karnataka Souharda Sahakari Act, 1997
(2)[ In addition to such disqualification as may be specified in the bye-laws, the directors of the Federal cooperative shall incur disqualification for being elected or continued as directors of the Federal cooperative or any other cooperative if, during their term of office, they have -(a)not provided necessary assistance to the cooperative election commission for conducting elections to the board before the term of expiry of the outgoing board;(b)not conducted the annual general meeting within the twenty fifth day of September every year or have not conducted the special general meeting within the specified time from the date of requisition;(c)failed to present the audit report along with audited financial statements of the preceding year in the annual general meeting;(d)failed to submit returns to the Registrar as per section 64A within six months from the date of close of the cooperative year;(e)committed grave financial irregularities or fraud which have been detected.]
