Section 92 of the MAHARASHTRA CO-OPERATIVE SOCIETIES ACT, 1960, provides as follows:
(1) Notwithstanding anything contained in 5[the Limitation Act, 19631, but subject to the specific provisions made in this Act, the period of limitation in the case of dispute referred to 6[the Co-operative Court] under the last preceding section shall-
(a) when the dispute relates to the recovery of any sum, including interest thereon, due to as society by a member thereof be computed from the date on which such member dies or ceases to be a member of the society;
(b) when the dispute is between a society or its committee, and any past committee, any past or present officer, or past or present agent, or past or present servant or the nominee, heir or legal representative of a deceased officer, deceased agent or deceased servant of the society, or a member, or past member, or the nominee, heir or legal representative of a deceased member and when the dispute relates to any act or omission on the part of either party to the dispute, be six years from the date on which the act or omission with reference to which the dispute arose, took place;
(c) when the dispute is in respect of any matter touching the constitution, management or business of a society which has been ordered to be wound up under section 102, or in respect of which a nominated committee or an administrator has been appointed under '[section 77A or 781, be six years from the date of the order issued under section 102, or 2[section 77A or 781 as the case may be;
(d) when the dispute is in respect of an election of 3[a committee or officers] of the society, be 4[two months] from the date of the declaration of the result of the election.
(2) The period of limitation in the case of any other dispute except those mentioned in the foregoing sub-section which are required to be referred to 5[the Co-operative Court] under the last preceding section shall be regulated by the provisions of 6[the Limitation Act, 1963], as if the dispute were a suit and 7[the Co-operative Court] a Civil Court.
Answer to your question:
However, in the case of VPK Urban Co-operative Credit Society Limited v/s Narayan S. Naik & Another, CRIMINAL APPEAL NO.17 OF 2010, Decided On, 22 June 2010, At, In the High Court of Bombay at Goa, it was held that “The learned J.M.F.C., therefore, was not right in applying the general law of limitation of three years when the Complainant was governed first by the Maharashtra Co-operative Societies Act, 1960, and then by the Goa Cooperative Societies Act, 2001.”
Further in the case of R.P.R. Nair v/s Ambaji Niketan Co-operative Housing Society Ltd. & Another Writ Petition No.8910 of 2012, Decided On, 27 September 2012, At, High Court of Judicature at Bombay it was held, “The Constitution of cooperative court has been dealt with by section 91A and section 92 provides for limitation... While that may be so, but section 92 throws light on the Intention of Law Makers and the Legislature with reference to sections 91 and 91A provides that the limitation would be, notwithstanding, anything contained in the Limitation Act, 1963 but subject to the specific provisions in the MCS Act.”
Although, in the case of Gobindram J. Budhrani v/s Satya-Prem Co. Operative Housing Society Ltd. Misc. Petition Appeal No. 209 of 1978, Decided On, 20 August 1979, At, High Court of Judicature at Bombay. It was held “The provision which would be applicable in the instant case would be section 92 (2) which provided that the period of limitation on the case of by other dispute except those mentioned in section 92 (1) which were required to be referred to the Registrar under the last preceding section would be regulated by the provisions of the Indian Limitation Act, as if the dispute was a suit and the Registrar a Civil Court.”