Section 53(1) in The M.P. Co-Operative Societies Act, 1960
(1)If, in the opinion of the Registrar, the committee of any society-(a)[x x x] [Omitted by M.P. Act 25 of 1988 [w.e.f. 28-6-1988].] is negligent in the performance of the duties imposed on it by or under this Act or bye-laws of the society or by any lawful order passed by the Registrar or is unwilling to perform such duties; or(b)commits acts which are prejudicial to the interests of the society or its members; or(c)[ violates the provisions of this Act or the rules made thereunder or bye-laws of the society or any order passed by the Registrar;] [Substituted by M.P. Act No. 25 of 1988 [w.e.f. 28-6-1988].]the Registrar may, by order in writing, remove the committee and appoint a person or persons to manage the affairs of the society for a specified period not exceeding two years in the first instance :[Provided that in case of a Co-operative Bank, the order of supersession shall not be passed without previous consultation with the Reserve Bank] [Inserted by M.P. Act No. 8 of 1970.] :[Provided further that if no communication containing the views of the Reserve Bank of India, on action proposed is received within forty-five days of the receipt by that Bank of the request soliciting consultation, it shall be presumed that the Reserve Bank of India agrees with the proposed action and the Registrar shall be free to pass such order as may be deemed fit:] [Inserted by M.P. Act No. 14 of 1976.][Provided also that in case of a [x x x] [Inserted by M.P. Act No. 28 of 1982 [w.e.f. 29-10-1982].] Co-operative Bank, if so required by the Reserve Bank in the public interest or for preventing the affairs of the [x x x] [Omitted by M.P. Act No. 25 of 1988 [w.e.f. 28-6-1988].] Co-operative Bank being conducted in a manner, detrimental to the interest of the depositors or for securing the proper management of a [x x x] [Omitted by M.P. Act No. 25 of 1988 [w.e.f. 28-6-1988].] Co-operative Bank, the Registrar shall pass an order for the supersession of its committee or managing body by whatever name called and for appointment of an Administrator therefor for such period or periods not exceeding 5 years in the aggregate, as may from time to time be specified by the Reserve Bank and on such appointment, the provisions of sub-sections (4), (5), (6) and (8) shall apply as if orders were passed under sub-section (1):][Provided also that if a non-official is appointed in the committee of a primary society, he shall be from amongst the members of that society, entitled for such representation and in case of Central or Apex society, if a person is appointed in the committee of such society, he shall be a member of one of its affiliated societies entitled for such representation.] [Inserted by M.P. Act No. 25 of 1988 [w.e.f. 28-6-1988].]
