MOHINDER SINGH Vs. ASSISTANT REGISTRAR

JUDGEMENT

(1.) The learned counsel for the petitioner relying on Jai Pal v. State of Haryana, 1984 0 PunLJ 8, contended that the matter was squarely covered by Section 54 of the Punjab Co-operative Societies Act and, as such, there could not be a reference to arbitration under section 54. The contention is wholly misconceived. Section 54 is attracted only when the embezzlement is detected by an audit party and the action is sought to be taken on the audit report. In the absence of such an audit report, as held in Angoori Lal Sharma v. State of Haryana, 1980 PunLJ 86 by a Division Bench of this Court, the reference to arbitrator was competent under section 55. So, we find no merit in this petition which is accordingly dismissed.