Section 93(3) in The Maharashtra Co-Operative Societies Act, 1960
(3)[ Notwithstanding anything contained in this Act, where it appears to the Co-operative Court that there exist elements of settlement which may be acceptable to the parties, the court may formulate the terms of the settlement and give the same to the parties for their observation and after receiving the observations of the parties, the court shall reformulate the terms of possible settlement and refer the dispute for,-(i)Arbitration;(ii)Conciliation;(iii)Judicial Settlement, including settlement through Lok Adalat;(iv)Mediation.
