Section 27. Annual general meeting.

(1) A general meeting of every Cooperative Society shall be held once in a year for the purpose of (a) approval of the programme of the activities of the Society prepared by the Committee for the ensuing year ; (b) election, if any, in the prescribed manner of the members of the Committee, other than nominated members ; (c) consideration of the audit report and the annual report ; (d) disposal of the net profits ; and (e) consideration of any matter which may be brought forward in accordance with the bye-laws. (2) At every annual general meeting of a Society, the Committee shall lay before the general body of the Society balance sheet, profit and loss account/ statement showing details, statement showing list of defaulters and informations regarding embezzlements and the persons or members involved in such embezzlements.