Section 110(e) in The Gujarat Co-Operative Societies Act, 1961
(e)to investigate all claims against the society and, subject to the provisions of the Act, to decide question of priority arising out of such claims and to pay any class or classes of creditors in full or ratably according to the amount of such debts, the surplus being applied in payment of interest from the date of liquidation at a rate approved by the Registrar, but not exceeding the contract rates;
