The board of a cooperative society can be superseded or kept under suspension if: There is negligence in the performance of duties. There is any act prejudicial to the interests of the co-operating society or its members. The body has failed to conduct elections in accordance with the provisions of the State Act. There is no Government shareholding or loan or financial assistance or any guarantee on financial assistance. Select the correct answer using the code given below:
- A1 and 2 only
- B1 and 3 only
- C3 and 4 only
- D1, 2 and 3
Explanation
Article 243ZL(1) permits supersession of a co-operative society's board for persistent default, negligence of duties, acts prejudicial to the society or its members, stalemate, or failure to conduct elections as per the State Act, so statements 1, 2 and 3 are correct grounds. The proviso to the Article bars supersession where there is no government shareholding, loan, financial assistance or guarantee, so statement 4 is not a ground. Hence 1, 2 and 3, option (d).