L.NARASIMHA REDDY
Jaggampeta Co-operative Rural Bank Ltd. , Jaggampeta Village and Mandal – Appellant
Versus
Deputy Registrar of Co-operative Societies, Peddampuram, E. G. District – Respondent
2. The petitioner is a Society registered under the A.P. Co-operative Societies Act, 1964 (for short the Act). The third respondent herein functioned as the President of the Society between 1.8.1995 and 8.9.2003. The District Co-operative Officer, Kakinada, directed an enquiry, under Section 51 of the Act, into the working of the said Society, through his proceedings dated 29.4.2003. The enquiry was conducted by the Divisional Co-operative Officer, Peddapuram and a report was submitted on 2.9.2004, pointing out certain financial irregularities on the part of the third respondent and the then Secretary, by name G. Trimurthulu. On the basis of this report, proceedings were initiated under Section 60 of the Act and the second respondent was authorised in this regard.
3. After issuing notice to the third respondent and other affected parties, the second respondent passed surcharge orders, dated 26.4.2005, requiring the third respondent and the then Secretary, to restore a sum of Rs.2,76,000/- with interest
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