Section 55(2) in The M.P. Swayatta Sahakarita Adhiniyam, 1999
(2)(a)If the person commits an offence under sub-section (1) is a cooperative which is a body corporate, the co-operative as well as every person in charge of and responsible to the co-operative for the conduct of its business at the time of commission of the offence shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly.(b)Notwithstanding anything contained in clause (a) where an offence has been committed by a co-operative and it is proved that the offence has been committed with the consent or connivance of, or that the commission of the offence is attributable to any neglect on the part of any director, manager, secretary or other officer of the co-operative, such director, manager, secretary or other officer shall also be deemed to be guilty of that offence and shall be punishable with a fine of [ten thousand] [Substituted for 'one thousand' by M.P. Act No. 16 of 2010.] rupees or with imprisonment for a term which may extend to ninety days or with both.
