Section Text
being in force and without prejudice to any mode of recovery which is being taken or may be taken, the Registrar may, on application made by a co-operative society including federal co-operative society or financial institution for recovery of arrears of any sums advanced to any of its members and on its furnishing a statement of accounts in respect of arrears and after making such inquiry as he deems fit, issue a certificate for recovery of the amount stated therein to be due as arrears.
(2) Where the Registrar is satisfied that a co-operative society has failed to take action under sub-section (1) in respect of any amount due as arrears, he may on his own motion, and after making such enquiry as he deems fit, issue a certificate for the recovery of the amount stated therein to be due as arrears and such certificate shall be deemed to have been issued on an application made by co- operative society or financial institution concerned.
(3) A certificate issued by the Registrar under sub-section (1) or sub-section (2) shall be final and conclusive proof of the arrears stated to be due therein and the certificate shall be executed in the manner specified in section