Section 67(1) in The Orissa Co-operative Societies Act, 1962
(1)If, in the course of any audit, enquiry, inspection or the winding up of a Society, it is found that any person, who is or was entrusted with the organisation or management of such Society or who is or has at any time been an Officer, office-bearer or employee of the Society, has made any payment contrary to this Act, Rules or the Bye-Laws, or has caused any deficiency in the assets of the Society by breach of trust, wilful negligence or otherwise, or has misappropriated or fraudulently or unauthorisedly retained any money or other property belonging to the Society, the Auditor-General or a person authorised by him by an order in writing in that behalf, on his own motion or on the application of a liquidator, the Committee or any creditor, after giving the person concerned a reasonable opportunity of being heard, may make an order in the manner prescribed, requiring him to repay or restore the money or property or any part thereof, with interest at such rates, or to pay such contribution, costs or compensation as he may consider just and equitable, and all such orders shall have effect without prejudice to any other action that may be lawfully taken against him :Provided that no proceedings under this Section shall be initiated after the expiry of a period of four years from the date any act or omission as aforesaid is first detected during audit, inspection, inquiry or the winding up of a Society, as the case may be.
