Section 103 in The Assam Co-operative Societies Rules, 1953
103. Gross negligence.
- The following matters shall be deemed to be gross negligence within the meaning of Clause (b) of sub-section (1) of Section 71.(i)investment, custody and employment of funds contrary to the provisions of the Act, Riles or bye-laws or any written direction of the Registrar given in accordance therewith ;(ii)failure to remedy audit defects and irregularities in time when directed by the Register under Section 59 ; and(iii)failure to file disputes against defaulters and to execute any decree or award within the period of limitation.
