Section 80(c) in The U.P. Co-operative Societies Rules, 1968
(c)If no claim is preferred within the time specified in the notice mentioned in sub-rule (a), the society shall continue to hold the amount until the expiry of the period of limitation provided under the Limitation Act, 1963, for any action in respect of the claim. After the expiry of the said period of limitation, the society shall credit the amount to the share transfer fund and in the absence of such a fund, to the reserve fund. No claim for payment shall be entertained after the expiry of the period of limitation.
