(1) On his own motion, the Managing Director or any Officer authorized by him, or on direction of State Government or Director, may
(a) inspector cause to be inspected the account and offices of Market Committee;
(b) hold enquiry into the affairs of a Market Committee;
(c) call from any return, statement, accounts or reports which he may think fit to require such committee to furnish;
(d) require a Market Committee to take into consideration
(i) any objection on the ground of illegality or in expediency or impropriety which appears to him to exist to the doing of anything which is about to be done or is being done by or on behalf of such committee; or
(ii) any information he is able to furnish and which appears, to him to necessitate the doing of a certain thing by such committee; and
(iii) to make written reply to him within a reasonable time stating the reason for doing or not doing such thing.
(e) direct that anything which is about to be done or is being done should not be done, pending consideration of the reply, and anything which should be done but is not being done should be done within such time as he may direct.
(2) When the affairs of a Market Committee are investigated under this section or the proceedings of any Market Committee are examined by the Managing Director under Section 124, the Chairman, Secretary and all other Officers and servants and Members of such committee shall furnish such information in their possession in regard to the affairs or proceedings of the Market Committee as the Managing Director, or the Officers authorized by him, as the case may be, may require.
(3) An officer investigating the affairs of a Market Committee under sub section (1) or the Director or the State Government examining the proceeding of any Market Committee under Section 125 shall have the power to summon and enforce the attendance of Officer(s) or Member(s) of the Market Committee and to compel him or them to give evidence and to produce documents by the same means and as far as possible in the same manner as is provided in the case of a Civil Court under the Code of Civil Procedure,1973.
(4) Where the Managing Director has reason to believe that the books and records of a Market Committee are likely to be tampered with or destroyed or the funds or property of a Market Committee are likely to be misappropriated or misapplied, the Managing Director may issue order directing a person duly authorized by him in writing to seize and take possession of such books and records, funds and property of the Market Committee and the Officer(s) of the Market Committee responsible for the custody of such books, records, funds and property shall give delivery thereof to the person so authorized.