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Section 59 – The Delhi Co-Operative Societies Act,1972

The Delhi Co-Operative Societies Act,1972

59. Surcharge.-

(1) If in the course of an audit, inquiry, inspection or the winding up of a co-operative society, it is found that any person, who is or was entrusted with the organization or management of such society or who is or has at any time been an officer or an employee of the society, has made any payment contrary to this Act, the rules or the bye-laws or has caused by deficiency in the assets of the society by breach of trust or willful negligence or has misappropriated or fraudulently retained any money or other property belonging to such society, the Registrar may, of his own motion or on the application of the committee, liquidator or any creditor, inquire himself or direct any person authorised by him, by an order in writing in this behalf, to inquire into the conduct of such person.

Provided that no such inquiry shall be held after the expiry of six years from the date of any act or omission referred to in this sub-section.

Where an inquiry is made under sub-section (1), the Registrar may, after giving the person concerned an opportunity of being heard, make an order, requiring him to repay or restore the money or property or any part thereof, with interest at such rate, or to pay contribution and costs or compensation to such extend, as the Registrar may consider just and equitable.

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The Delhi Co-Opearative Societies Act,1972

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