Association Treasurer's liability if cashier misappropriated

Dear Sirs, Five years back when I was Treasurer of our Apartment Association, Cashier of Association misappropriated Rs.51000/-. He had admitted misappropriation . In General body meeting of the Association, decision was taken that Office bearers should lodge Police complaint to collect the money. Then Police complaint was lodged. Office bearers could not collect the money. Now (ie., after 5 years), the present office bearers have passed resolution that the Treasurer at that time (ie., me) should pay the money to Association. Is this resolution valid? What I should do. Regards.