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.

(l) A person shall not be Qualifications and Disqualifications of Auditors for appointment as an auditor of a Multi State Cooperative Society unless he is a chartered accountant within the meaning of the Chartered Accountants Act, 1949 (38 of 1949).(2) None of the following persons shall be qualified for appointment as auditor of a multi state cooperative society(a) a body corporate;

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:

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 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

(1) The Central Registrar may, on a request from a federal co-operative to which a inspection of a multi state cooperative society is affiliated or a creditor or not less than one-third of the members of the board or not less than one-fifth of the total number of members of a multi state cooperative society by general or special order in writing in this behalf, inspect or direct any person authorized by him by order in writing in this behalf to make an inspe