Amendment status not verified — confirm the current text below against the official source.
Offences :- (1) Any person other than a co-operative society carrying on business under any name of or title of which the word ―Co-operative‖ or its equivalent in any Indian language is part, without the sanction of the Government shall be punishable with imprisonment for a term which may extend to six months or fine which may extend to *[five thousand rupees] or both and in case of a continuing breach with a fu rther fine which may extend to *[five hundred rupees] for every day during which breach is continued after conviction for the first such breach. (2) Any member or past member or the nominee, heir or legal representative of a deceased member of a co-operative society, who contravenes the provisions of section 52 and 53 by disposing of any property in respect of which the society is entitled to have first charge under that section or do any other act to the prejudice of such claim, shall be punishable with fine which may extend to *[five thousand rupees.] *(3) A co-operative society or an officer or a member thereof willfully making a false return or furnishing false information, or any person willfully or without any reasonable excuse, disobeying any summons, requisition or lawful written order issued under the provisions of thisAct or willfully not furnishing any information required from him, by a person authorized in this behalf under the provision of this Act, shall be punishable with fine which may extend to ten thousand rupees. * (4) Any employer or officer or agent acting on behalf of such employer who without sufficient cause fails to deposit to a co-operative society, the amount deducted by him under section 45 within a period of fourteen days from the date on which such deduction is made shall, without prejudice to any action that may be taken against him under any law for the time being in force, be punishable with fine which may extend upto ten thousand rupees. * (5) Any officer or custodian who willfully fails to produce or hand over custody of books, record, cash, security and other property belonging to a co-operative society, to a person entitled under sections 50, 51, 95, 97, 98, 99 and 106, shall be punishable with imprisonment for a term which may extend to six months or with fine which may extend to ten thousand rupees or with both and in case of a continuing breach beyond six months with a further fine which may extend to one hundred rupees for every day during which the breach is continued after conviction for the first such breach.‖; * Section 115 – Words ― aggrieved party‖ substituted by Act No. 19 of 2006. * Section115 – Words ― under this........thereunder‖ added by Act No 19 of 2006. * Section 117– Sub Section (1) word ― five thousand‖ and five hundred‖ substituted by Act No. 19 of 2006. Sub section (2) word ― Five Hundred‖ substituted by Act No 19 of 2006. * Section 117 – Sub Section (3), (4), & (5) substituted by Act No. 10 of 2013 44 (6) Any person who fraudulently acquires or abets in the acquisition of any property which is subject to a charge under section 52 and 53 shall be punishable with fine which may extend to *[one thousand rupees.] *(7) Any person who transfers the property which is subject to a charge of the society with an intent to evade its sale or attachment, shall be punishable with fine which may extend to ten thousand rupees. *(8) Any person being a member of the managing committee who fails to get the accounts audited in accordance with the provisions of section 95 without sufficient cause, shall be punishable with fine which may extend to ten thousand rupees: Provided that an opportunity of being heard shall be provided before any order is passed under this section. *(9) Any officer or employee of a co-operative society giving loans to non-members and other societies including co-operatives without the approval of Registrar, shall be punishable with a fine which may extend upto ten thousand rupees or imprisonment which may extend to six months or both. *(10) If any officer, employee, agent or servant of a society or any other person dealing with the society embezzles money belonging to that society, he shall be punishable with fine which may extend upto ten thousand rupees or imprisonment for a term which may extend upto two years or both. *(11) If any person dishonestly or fraudulently makes or executes or cause to make or execute any document or valuation certificate or project report or register or cause to register any fictitious company or firm or society in order to support any application for loan and thereby induces any society to deliver any loan to him or to any other person which causes loss to the society, he shall be punishable with fine upto ten thousand rupees or imprisonment for a term which may extend upto two years or both. *(12) Any person who before, during or after the election of the members or committee or officers adopts any corrupt practices shall be punishable with fine which may extend upto ten thousand rupees or imprisonment upto six months or both. *(13) Any person who collects share money for a society and does not deposit the same in the account of the Society in the Bank within fourteen days of its receipt or makes use of funds so raised for personal use or conducting any business or trading in the name of the co-operative society already registered under this Act or otherwise, shall be punishable with a fine extending upto ten thousand rupees or imprisonment extending to six months or both. *(14) Any person who collects share money or any other sum by misrepresentation from a member or prospective member in the name of the Co-operative society registered under this Act shall be punishable with a fine extending upto ten thousand rupees, or imprisonment extending to six months or both. *(15) Any officer or member of a society who destroys, mutilates, tampers or otherwise alters, falsifies or secrets or is privy to the destruction, mutilation, alteration, falsification or secreting of any book, paper or securities or makes or is privy to the belonging to the society, shall be punishable with a fine extending upto ten thousand rupees, or imprisonment extending upto six months or both. *(16) Any person who knowingly gives a false certificate, in whatever form, showing that a * Section 117– Sub section (6) ,word ―one thousand subsituted by Act No. 19 of 2006 Sub section (7) , & (8) added by Act No. 19 of 2006 * Section 117 – Sub Section (9) to (20) added by Act No. 10 of 2013 45 person is or is not defaulter or an active member, shall be punishable with a fine extending upto ten thousand rupees. *(17) In a society, where the bye-laws do not provide for acceptance of deposits, and a officer or member accepts deposits on its behalf, shall be punishable with a fine upto ten thousand rupees or imprisonment extending upto one year or both. *(18) If any person willfully or without any reasonable cause does not provide information as per sub-section (2) of section 120, within the period prescribed, shall be punishable with a fine of hundred rupees per day, which may extend to ten thousand rupees. *(19) No order under this section shall be passed without giving an opportunity of hearing. *(20) The offences under sub-sections (2), (3), (4), (6), (7), (8), (16) and (18) of this section shall be compoundable by the Registrar.‖.