Section 93 in The Tripura Co-operative Societies Act, 1974
93. Power of the financing bank to proceed against member of the society for recovery of the money due to it from such society.
(1)If a society is unable to pay its debt to a financing bank by reason of its members committing default in the payment of the moneys due by them, the financing bank may direct the committee of such society to proceed against such members under Section 92 or Section 155, as the case may be, and if the committee fails to do so within a period of ninety days from the date of such receipt or such direction, the financing bank itself may proceed against such members under Section 92 or Section 155, in which case, the provisions of this Act, the rules or the bye-laws shall apply as if all references to the society or its committee in the said provisions were references to the financing bank.(2)Where a financing bank has obtained a decree or award against a society in respect of the moneys due to it from the society, the financing bank may proceed to recover such money firstly from the assets of the society and secondly from the members of the extent of their debts due to the society.
