File a complaint with the Registrar of CGHS to hold an inquiry. If the majority of member of the society are of the same opinion, give a notice to the mananging committee of calling a GB meeting as per bylaws of the society and the issue can be discussed therein. Even MC can be removed by the GB. If MC does not call the meeting the members constituting a quorum can go ahead in holding the GB Meeting and decision therein shall be binding on the society. They can take a resolution of freezing the accounts of the society and send a copy of the resolution to the bank. It can be enforced through court as well.
From my experience, I can say that Registrar of CHS does nothing.