Certificate for sums due

(1) Notwithstanding anything contained in section 102 and 103 a financing institution or a co-operative society may apply to the Registrar for recovery of arrears of any sum due to it from members, past members, officers, past officers and shall attach with such application a statement of accounts in respect of such sums. (2) On receipt of an application under sub-section (1) the Registrar may, after making such enquiry as he may deem fit after affording the members, past members, officers , past officers concerned an opportunity of being heard pass an order granting a certificate for the recovery of amount stated therein to be due, as such arrears. (3) When the Registrar is satisfied that a co-operative society has failed to take action under sub-section (1) against any of its members, past members, officers or past officers, the Registrar, on his own motion may, after making such enquiry as he deems fit and affording an opportunity of being heard proceed to grant a certificate referred to in sub-section (2). (4) A certificate granted by the Registrar, under this section shall be final and conclusive proof of arrears due therein and the same shall be recoverable as per provisions of section 110 of this Act.