Section 54 in The Orissa Self-Help Co-operatives Act, 2001
54. Duties of a liquidator.
- On his/her appointment, a liquidator shall,(a)immediately give notice of his/her appointment to the Registrar, the Secondary Co-operative, if any, or to the member Co-operatives, as the case may be, and to each claimant and creditor of the Cooperative;(b)take reasonable steps to give notice of the liquidation where the Co-operative carries on business as referred under Sub-section (5) of Section 53;(c)place in the notice mentioned in Clauses (a) and (b) a provision requiring any person -(i)indebted to the Co-operative, to render, an account and pay to the liquidator at the time and place specified any amount owing;(ii)possessing property of the Co-operative, to deliver it to the liquidator at the time and place specified; and(iii)having a claim against the Co-operative, whether liquidated, unliquidated, future or contingent, to present particulars of the claim in writing to the liquidator not later than sixty days after the first publication of the notice;(d)take into custody and control the property of the Co-operative;(e)open and maintain a trust account for the moneys of the Cooperative;(f)keep accounts of the moneys of the Co-operative received and paid out by him/her;(g)maintain separate lists of the members, creditors and other persons having claims against the Co-operative;(h)where at any time he/she determines that the Co-operative is unable to pay or adequately provide for the discharge of its obligations, seek the suggestion from the general body as to the undischarged liabilities; and(i)deliver to the Registrar/general body, periodically as the Registrar/ general body may require, financial statements of the Co-operative in any form which the liquidator considers proper or that the Registrar/general body may require.
