Section 66 in The Meghalaya Co-operative Societies Act
66. Winding up.
(1)Where an order of cancellation of the registration of a society is made by the Registrar under Section 65, he may appoint any person to be the liquidator of the society and may remove such person and appoint another in his place.(2)The liquidator appointed under sub-section (1) shall have power from the date of this appointment to take immediate possession of all assets properties effects and actionable claims of the society or to which the society is entitled and of all books, records, cash and other documents pertaining to the business of the society and, in the interest of he society shall hold charge of the society notwithstanding the provisions of Section 65 ; provided that no step shall be taken for the winding up of the society during the pendency of any stay order.(3)The liquidator shall, under the general control of the Registrar have power, so far as is necessary for the winding up of the society, on behalf of the society to carry on the business thereof and to do all acts and execute all documents necessary to such winding up, and in particular shall exercise the following powers :(a)to institute, compromise and defend suits and other legal proceedings on behalf of the society by his name of office,(b)to make any compromise or arrangement with any person between whom and he society there exists any dispute ;(c)to determine the debts due to the society by a member, past member of the estate, nominees heirs or legal representatives of a deceased member;(d)to determine from time to time the contribution to be made or remaining to be made by the members, past members or by the estates or nominees, heirs or legal representatives of deceased members or by any officers or former officers, to the assets of the society and to determine the debts due from such members or persons and the cost of liquidation ;(e)to calculate the cost of liquidation and to determine by what persons and in what proportion they are to be borne ;(f)to investigate all claims against the society and, subject to the provisions of this Act, to decide questions of priority arising between claimants ;(g)to pay claims against the society including interest up to the date of cancellation of registration according to their respective priorities if any, in full or rateably as the assets including the reserve fund of the society, permit ; the surplus, if any remaining after payment of claims being applied in payment of interest from the date of such cancellation of the rate fixed by him but not exceeding the contract rate in any case ;(h)to take step to recover dues according to the provisions of Section 83, if necessary ; and(i)to dispose of the surplus if any remaining after paying the claims against the society in accordance with Section 67 of this Act.(4)Subject to the provisions of this Act and rules made thereunder a liquidator appointed under this section shall, in so far as such powers are necessary for carrying out the purposes of this section, have powers to summon and enforce the attendance of witnesses and to compel the production of any books, accounts, documents, securities cash or other properties belonging to or in the custody of the society by the same means and so far as may be in the same manner as is provided in the case of a civil Court under the Code of Civil Procedure, 1908 (V of 1908).(5)Notwithstanding anything contained in any law for the time being in force, if any landed property is held by a liquidator as such the title over the land shall be complete as soon as the mutation of the name of his office is effaced and no Court shall question the title on the ground of dispossession, want of possession or physical delivery of possession.
