Co-operative society loan

The society shall take all action(s) to recover outstanding amount through legal process.

However, it is a subjective question, which can be guided by some local professional lawyer.

The societies in some states are vested with powers as of Revenue, and security is not important if the borrower is having some other fixed/moveable assets.  First issue notice demanding for repayment, then investigate as to whether the borrower is an employee or having assets so that you can proceed in such recovery by seeking attachment of those assets.  Contact a local advocate and Registrar of societies for knowing the powers of society for such recovery.