(1) The Registrar may, after first providing an opportunity to the cooperative concerned to present its case, for reasons to be recorded in writing , of his/her own motion, and shall, on the application of a secondary cooperative to which the cooperative concerned is affiliated, or of a creditor to whom the cooperative is indebted or of not less than one-third of the directors, or of not less than one-tenth of the members, hold an inquiry or cause an inquiry to be made into any specific subject or subjects relating to any gross violation of any of the provisions of this Act by the cooperative.
(2) Except when an inquiry is undertaken on his/her own motion, the Registrar shall order an inquiry only after the receipt of a fee, from the applicant or the applicants, deemed sufficient to meet the costs of the inquiry to be conducted.
(3) The inquiry shall be completed within a period of one hundred and twenty days from the date of ordering the inquiry.
(4) If the inquiry is not completed within the time specified in sub-section (3), it shall lapse at the end of the said period, and the Registrar shall refund to the applicants the fee collected from them.
(5) The Registrar shall, within a period of thirty days from the date of the completion of the inquiry, as specified in sub-section (3) or of the lapse of the inquiry as specified In sub-section (4) communicate the report of the inquiry, or the reasons for the non-completion of the inquiry as the case may be,—
(a) to the cooperative concerned ;
(b) to the applicant secondary cooperative, if any ;
(c) to the applicant creditor, if any ;
(d) to the person designated by the applicant-directors, if any ;
(e) to the person designated by the applicant-members, if any ; and
(f) to any person, on payment of fee specified by the Registrar.