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Appointment Of Near Relative Of An Officer In A Co-Operative Society, Violates Rules: Madras High Court

ITAT Allows Income Tax Deduction On Interest Income From Investment In Co-Operative Bank

Govt seeks to curtail time limit for probing co-op fraud

Updated: Share Article AAA The Tamil Nadu government on Thursday tabled a Bill in the Assembly to reduce the time limit for completing an inquiry, inspection or investigation in connection with cases of fraud or misappropriation at cooperative societies. The Bill, introduced by Cooperation Minister Sellur K. Raju, said, “The government considers these time limits too long, and in the interests of the societies, fraud or misappropriation should be unearthed expeditiously and recovery of losses expedited.” Sections 81 and 82 of the Tamil Nadu Co-operative Societies Act, 1983, provide three months for completion of an inquiry, inspection or investigation. They also provide for an extension of time by six months in the aggregate, as may be permitted by the next high authority. The Bill seeks to reduce these time lines to one month and three months respectively. Section 87 provides for six months for completion of the surcharge action and a further extension of six months in the

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