Rectification of defects disclosed in the audit and order of surcharge against trustee, etc.

If on a consideration of the audit report and the report of the Board concerned and after such inquiry as may be necessary, the Commissioner is of the opinion that the Board or any trustee is guilty of irregular, illegal or improper expenditure or of loss or waste of money caused by the failure to recover moneys due or other property belonging to the institution or by neglect or misconduct or misapplication or collusion, or fraudulent transactions or breach of trust; the Commissioner may, after giving notice to the Board or such trustee, as the case may be, to show cause why an order of surcharge should not be passed against such Board or trustee, and after considering the explanations, if any, of the Board or such trustee by order certify the amount so spent or the amount or value of the property so lost or wasted and direct all the trustees of the Board or the trustee concerned, as the case may be, to pay within a specified time such amount or value personally and further direct in the event of the failure to pay such amount, the same shall be recoverable under the revenue recovery law for the time being in force as if it were an arrear of land revenue.