Section 103 in The Manipur Co-operative Societies Act, 1976
103. Appointment of Liquidator.
(1)When an interim order is passed under the last preceding section or a final order is passed under that section for the winding up of a society, the Registrar may, in accordance with the rules, appoint a person to be liquidator of the society, and fix his renumeration.(2)On the issue of interim order, the officers of the society shall hand over to the Liquidator the custody and control of all the properties, effects and actionable claims to which the society is or appears to be entitled, and of all books, records and other documents pertaining to the business of the society, and shall have no access to any of them.(3)When a final order is passed confirming the interim order, the officers of the society shall vacate their officers, and while the winding up order remain in force, the general body of the society shall not exercise any power.(4)The person appointed under this section as Liquidator shall, subject to the general control of the Registrar, exercise all or any of the powers mentioned in Section 108. The Registrar may remove such person and appoint another in his place without assigning any reason.(5)The whole of the assets of the society shall, on the appointment of the Liquidator under this section, vest in such Liquidator, and notwithstanding anything contained in any law for the time being in force, if any immovable property is held by a Liquidator on behalf of the society, the title over the land shall be complete as soon as mutation of the name of his office is effected, and no court shall question the title on the ground of dispossession, want of possession, or physical delivery of possession.(6)In the event of the interim order being vacated, the person appointed as Liquidator shall hand over the properties, effects and actionable claims and books, records and other documents of the society to the officers who had delivered the same to him. The acts done, and the proceedings taken after the interim order has been cancelled under the preceding section, be continued by the officers of the society.
