Section 88 in The Maharashtra Co-Operative Societies Act, 1960
88. Power of Registrar to assess damages against delinquent promoters, etc.
(1)Where, in the course of or as a result of an audit under section 81 or an inquiry under section 83 or an inspection under section 84 or the winding up of a society, the Registrar is satisfied on the basis of the report made by the auditor or the person authorised to make inquiry under section 83 or the person authorised to inspect the books under section 84 or the Liquidator under section 105 or otherwise that any person who has taken any part in the organisation or management of the society or any deceased, or past or present officer of the society has, within a period of five years prior to [the date of commencement of such audit or date of order for inquiry, inspection or] [These words were substituted for the words 'date of such audit, Inquiry, inspection or order for' by Maharashtra 33 of 1963 Section 18.] winding up, misapplied or retained, or become liable or accountable for, any money or property of the society, or has been guilty of misfeasance or breach of trust in relation to the society, the Registrar or a person authorised by him in that behalf may frame charges against such person or persons, and after giving a reasonable opportunity to the person concerned and in the case of a deceased person to his representative who inherits his estate, to answer the charge, make an order requiring him to repay or restore the money or property or any part thereof, with interest at such rate as the Registrar or the person authorised under this section may determine, or to contribute such sum to the assets of the society by way of compensation in regard to the misapplication, retention, misfeasance or breach of trust, as he may determine.[Provided that, proceedings under this sub-section, shall be completed by the authorised person within a period of two years from the date of issue of order by the Registrar:Provided further that, the Registrar may, after recording the reasons therefor, extend the said period for a maximum period of six months.] [These provisos were added by Maharashtra Act No. 16 of 2013 dated 13-8-2013, Section 54, (w.e.f. 14-2-2013).](2)The Registrar or the person authorised under sub- section (1) in making any order under this section, may provide therein for the payment of the cost or any part thereof, as he thinks just, and he may direct that such costs or any part thereof shall be recovered from the person against whom the order has been issued.(3)This section shall apply, notwithstanding that the act is one for which the person concerned may be criminally responsible.
