Case filed under IPC against co-opreative society

Vikram Patil (Querist) 30 November 2014 This query is : Resolved
Dear all, Pleae advice in following matter-
A urban cooperative credit society (patsanstha) was established under Maharashtra Co-operative Societies Act, 1960. An audit was made under S. 81 of the said Act by the govt. Auditor for the period of 1998-1999 & 1999-2000. After audit, audit report was submitted to registrar and to the concern society. There were some points related to misappropriation of funds and irregularities in record by chairman and employees were raised by auditor. It was expected to give time of 3 months to rectify such defects under S. 82 of the said Act. But the auditor didnot give such time and filed a FIR in police station after 2 days of completion of audit report. Now the stage of case is pending for framing of charges in the JMFC.
Now please suggest on following points-
1) Can the chairman and concern employees give application for discharge under S. 239 of CRPC & will it be fruitful?
2) What would be other remedy available to the accused?
3) Is this matter be regarded as dispute under Mah. Co-operative Soc. Act,1960 and tried by co-operative court?

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Devajyoti Barman (Expert) 30 November 2014
1. They can but result is doubtful.
2.Go for quashing.
3.Yes

ajay sethi (Expert) 30 November 2014
serious allegations have been made regarding misappropriation of funds by chairman and employees . chances of success in discharge application are bleak . better contest case on merits