Section 63 in The M.P. Swayatta Sahakarita Adhiniyam, 1999
63. Disposal of surplus assets of liquidated co-operatives.
- After all the liabilities including the paid up share capital of a wound up co-operative have been met, the surplus assets shall not be divided among its members but they shall be applied to any object described in the bye-laws and when no object is so described to any object of public utility determined by the general body meeting.
