Inquiry.

(1) Every Co-operative Society shall furnish any relevant information required by the Registrar in order to enable him to satisfy whether the Co-operative Society has conducted its affairs in accordance with the Co-operative principles and the provisions of this Act.

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(2) The Registrar may, of his own motion, and shall on the application, of a Federation to which the Co-operative Society concerned is affiliated, or of a creditor to whom the Co-operative Society is indebted or of not less than one third of the Directors, or of not less than one tenth of the members, hold an inquiry or cause an inquiry to be made into the specific matter or matters relating to any gross violation of any of the provisions of this Act by the Co-operative Society.

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¹[(3) The inquiry shall be completed within a period of four months from the date of receipt of orders:

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Provided that the Registrar may extend the period of inquiry further period of one month while recording the reasons thereof in writing.]

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²[(4) [XXX]]

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¹[(5) The Registrar shall, within a period of thirty days from the date of the completion of the inquiry communicate the report of the inquiry or the reasons for the non-completion of the inquiry, as the case may be,-

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(a) to the co-operative society concerned;

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(b) to the applicant federation, if any;

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(c) to the applicant creditor, if any;

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(d) to the person designated by the applicant - directors, if any;

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(e) to the person designated by the applicant - members, if any;

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(f) to any person, on payment of fee fixed by the Registrar; and

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(g) to the Co-operative Tribunal where necessary.]

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(6) the inquiry officer acting under this section shall, among others, specifically state the amount of deficiency, waste or loss which appear to have been caused by the gross negligence or misconduct of any person in the performance of his duties.