Section 163 in West Bengal Co-operative Societies Rules, 2011
163. Writing off Assets and Bad Debts.
(1) Subject to approval of the Registrar, any debt or dues or any asset considered bad shall be written off by the general meeting in the order below against(a)the bad debt fund, or any fund created out of profits as provision for non-performing assets or bad debts, as certified by the audit officer:(b)any other fund created out of profits but not earmarked for any specific purpose; and(c)the reserve fund constituted under the Act.(2)Where the society is a member of a financing Bank and is indebted to it, the Registrar shall consult the financing bank before sanctioning the writing off of any debt or amount due.
