Disposal of disputes

("Disposal of disputes")

1. (1) If any dispute touching the constitution, management or the business of a society, by which is meant,—
   • (a) a claim by the society for any debt or other amount due to it from a member, past member or the estate of a deceased member or a nominee, heir or legal representative of a deceased member, whether such debt or amount be admitted or not;
   • (b) a claim by a surety against the principal debtor where the society has recovered from the surety any amount in respect of any debt or other amount due to it from the principal debtor as a result of the default of the principal debtor, whether such debt or amount be admitted or not;
   • (c) a claim by a society for any loss caused to it by a member, past member or deceased member, by any officer, past officer or deceased officer, by any agent, past agent or deceased agent, or by any servant, past servant or deceased servant, or by its committee, past or present, whether such loss be admitted or not;
   • (d) a dispute made by a member, past member or the estate of a deceased member or a nominee, heir or legal representative of a deceased member against the society, its committee or any officer, agent or servant of the society;
   • (e) a dispute, between a society and another society or between a society and a liquidator of another society;
   • (f) a dispute, between a society and its creditors or between a society and the financing bank; arises, it shall be referred to the Registrar for decision.
2. (2) The Registrar may, on receipt of the reference of dispute under sub-section (1),—
   • (a) elect to decide the dispute himself; or
   • (b) transfer it for disposal to any person who has been invested by the Government with powers in that behalf; or
   • (c) refer it for disposal to an arbitrator appointed by the Registrar.
3. (3) The Registrar may, pending the decision of the dispute, make such interlocutory orders including orders of attachment as he may deem necessary in the interests of justice.
4. (4) The decision of the Registrar, or the person or the arbitrator to whom the dispute is referred, shall, subject to such rules as may be prescribed, be final and conclusive and shall not be liable to be called in question in any court.