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49. Securing possession of records, etc.- (1) If - (a) the records (including registers and books of accounts) of a multi-State cooperative society are likely to be tampered with or destroyed or the funds or other property of such society are likely to be misappropriated or misapplied; or
(b) the board of a multi-State cooperative society is reconstituted at a general meeting of the society; or
(c) the board of a multi-State cooperative society is removed by the Central Registrar under sub-section (1) of section 48; or
(d) a multi - State cooperative society is ordered to be wound up under section 77 and the outgoing members of the board refuse to hand over charge of the records and property of the society to those having, or entitled to receive such charge, the Central Registrar may apply to the magistrate within whose jurisdiction the multi-State cooperative society functions for securing the records and property of the society.
(2) On receipt of an application under sub-section (1), the magistrate may, by a warrant authorise any police officer not below the rank of a sub-inspector to enter and search any place where such records and property are kept or are believed to be kept and to seize such records and property; and the records and property so seized shall be handed over to the new board or administrator of the multi-State cooperative society or the liquidator, as the case may be.
(3) Every such search and seizure shall be made in accordance with the provisions of the Code of Criminal Procedure, 1973.
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