(1) Notwithstanding anything contained in any law for the time being in force, the State' Government may grant loans, to take share in, guarantee the principal or the interest or both in respect of debentures issued by or give financial assistance in any other form to any registered cooperative society which puts forward a satisfactory scheme for the utilization of the funds so raised.
(2) The State Government may recover or recall from any cooperative society, out of its net profit in any year, all or any part of such financial assistance in event of misutilisation.
(2) The State Government may recover or recall from any cooperative society, out of its net profit in any year, all or any part of such financial assistance in event of misutilisation.
India Code, Government of India. Text fetched 10 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.