Section 49C(3) in The M.P. Co-Operative Societies Act, 1960
(3)Where the Registrar is satisfied that any person or committee responsible for complying with any directions or modified directions issued to a society under sub-section (1) or (2) has failed without sufficient reason or justification to comply with the directions, the Registrar may -(i)in case of a committee, proceed against such committee in accordance with the provisions of Section 53; and(ii)in case of a person, if the person is a member of committee of the society or an employee of the society, proceed against such person in accordance with the provisions of Section 53-B or the rules framed under sub-section (1) of Section 55 as the case may be :[Provided that directions involving financial losses to the societies will be given only with prior consent of the committee, of such society and, where necessary, of National Financial Institutions, as well as after making the provision and advance allotment for compensating such losses fully.] [Substituted by M.P. Act No. 12 of 1994 [w.e.f. 8-5-1994].]
