The board of a cooperative society can be superseded or kept under suspension if :
1. There is negligence in the performance of duties.
2. There is any act prejudicial to the interest of the co-operative society or its members.
3. The body has failed to conduct elections in accordance with the provisions of the State Act.
4. There is no Government shareholdings or loan or financial assistance or any guarantee by the Government.
Select the correct answer using the code given below :
This questions was previously asked in
EPFO EO AO 2023
1 and 2 only
Incorrect Answer1 and 3 only
Incorrect Answer3 and 4 only
Incorrect Answer1, 2 and 3
Correct AnswerExplanation:
- Statement 1: Negligence in performance of duties can justify the suspension or supersession of a cooperative society's board.
- Statement 2: Acts prejudicial to the interests of the society or its members are also grounds for such action.
- Statement 3: Failure to conduct elections as per relevant laws is a common reason for intervention.
- Statement 4: If there is no government shareholding, loan, assistance, or guarantee, then the power to supersede does not normally apply. Statement 4, therefore, is not a ground.
- Option 4 (1, 2, and 3) is correct, as these three points are valid grounds.
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By: santosh