Section 54 - Securing possession of records, etc. - Multi-State Co-Operative Societies Act, 2002

Securing possession of records, etc. 54. (1) If ( a ) the records, including registers and books of account of a multi‑State co‑operative society are likely to be tampered with or destroyed or the funds or other property of such society are likely to be mis-appropriated; or ( b ) the board of a multi‑State co‑operative society is reconstituted at a general meeting of the society; or ( c ) a multi‑State co‑operative society is ordered to be wound up under section 86 and the outgoing members of the board refuse to handover charge of the records and property of the society to those having or entitled to receive such charge, the Chief Executive may apply to the magistrate within whose jurisdiction the multi-State co‑operative society functions for securing the records and property of the society. (2) On receipt of an application under sub‑section (1), the magistrate may, by a warrant, authorise any police officer not below the rank of a sub‑inspector to enter and search any place where such records and property are kept or are believed to be kept and to seize such records and property; and the records and property so seized shall be handed over to the new board or the liquidator, as the case may be. (3) Every such search and seizure shall be made in accordance with the provisions of the Code of Criminal Procedure, 1973 (2 of 1974).