Amendment status not verified — confirm the current text below against the official source.
Sub-section (3) of section 139 Power 3 To sanction granting of loan by a co-opeative society to another co-operative society which is not its member. To require any officer (including a former officer) to pay to the assets of the co-operative society for making good the loss sustained by it in direct consequences of the commission or omission specified, or to restore any property misappropriated or fraudulently retained and to pay the cost of any proceeding under this section. To impose penalties for certain contravention of the provisions of this Act or the rules or the by-laws. To give leave and impose conditions for proceeding with or instituting any suit or other legal proceeding against a liquidator or a co-operative society or a member thereof. To sanction the institution of any prosecution under this Act.