Limitation for loan recovery from Coperative Society

Respected Gentlemens kindly advise on the issue of which facts are mentioned below, Brief Summary : Mr "A" has taken personal loan of Rs 25k in the year 2006 from local coperative credit society. Mr "X" & "Y" stands as surites for loan.Unfortunately in year 2007 loanee Mr "A" died in accident. The coperative society intimated the Surieties to provide death certificate of deceased Mr "A" which were provided by surities.Subsequently society informed orally to surities in 2007 that society had insured the principle loan amount of the deceased from Insurance company which will be claimed and surities liability is only satisfy small interst amount. Surities when asked about settlement of insurance claim of deceased,society intimated orally that claim is forwarded to insurance Company.But when in 2009 one of surety sent registerd letter and asked about details of insurance claim of deceased,society not even bothered to provide deatils.Since from that letter till today no reply nor recovery reminders were provided to sureties.At present in 2019 society board of directors are changed and they are eagar to recover loan amount.Hence they have sent notice of recovery after 10-12 years. Query: 1)Can society recover loan from surety after 10 years? under MCS Act 1960 2)Is there any limitation for recovery? Cause of Action as per MCS Act start from death of deaceased,so now period is alomst 12 years & there is no complaince made by society in these years for recovery. 3)Can socity can make appl under 101 of MCS Act? 4)What would be defences available for Sureties? Kindly provide valubale opinion as sureties are Senior Citizens