Where a co-operative bank, being an insured bank within the meaning of The Deposit Insurance Corporation by liquidator of cooperative societies and Credit Guarantee Corporation Act, 1961 (47 of 1961), is wound up and the Deposit Insurance Corporation has become liable to the depositors of the insured bank under sub-section (1) of section 16 of that Act, the Deposit Insurance Corporation shall be reimbursed by the liquidator or such other person in the circumstances, to the extent and in the manner provided in section 21 of that Act.

In multi state cooperative society claim in certain cases:- (1) Where the Central Government is of the opinion-
(a) that the affairs of any Multi State Cooperative Society are not being managed in accordance with self-help and mutual aid and cooperative principles or prudent commercial practices; or with sound business principles; or

Inquiry of multi state cooperative society by Central Registrar

The surplus assets, as shown in the report of a liquidator of a multi state cooperative society which is wound up-
(a) may, if the bye-laws of the multi state cooperative societies specify the purpose for which surplus shall be utilized, be utilized for the said purpose, and

Audit report of Multi state cooperative society

Winding up of cooperative bank under multi state cooperative societies Act, 2002 at the direction of Reserve Bank:

(1) Every auditor of a Multi state cooperative society shall have a right of access at all times to the books, accounts and vouchers of the multi state cooperative society, whether kept at the head office of the multi state cooperative societies or elsewhere, and shall be entitled to require from the officers or other employees of the multi state cooperative Society such information and explanations as the auditor may think necessary for the performance of his duties as an auditor.(2) Without prejudice to provisions of sub-section (1), the auditor shall inquire,

The power of Central Registrar or the person authorized by him under Multi State Cooperative Societies Act, 2002 shall have the following powers, namely:

In Multi State Cooperative Societies Act 1984, unless the context otherwise requires

(a) means the board of directors or the governing body of a multi state cooperative society by whatever name called, to which the direction and control of the management of the affairs of the society is entrusted;