Notwithstanding anything contained in this Act, where any Registered co-operative society is required to take any action under this Act, the rules or bye-law and such action is not taken within the time provided in this Act, the rules or bye-laws or within such time as the Registrar may specify by a notice in writing. Where no time is so provided, the Registrar may call upon any officer of the co-operative society who is responsible for carrying out the directions, and after giving such officer an opportunity to be heard may require him to pay the assets of the co-operative society such amount as the Registrar may think fit but not less than five hundred rupees for each day until the Registrar’s direction are carried out.
India Code, Government of India. Text fetched 10 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.