Section 14A in The Orissa Co-operative Societies Act, 1962
14A. [ Compulsory re-organisation or amalgamation of Societies.] [Inserted by Orissa Act 19 of 1983-Section 5 See Orissa Gazette Extraordinary dated 11.10.1983.]
(1)Notwithstanding anything contained in this Act, if the Registrar, for reasons to be recorded, is of the opinion that-(a)for ensuring viability of any Society or Societies; or(b)for avoiding over-lapping or conflict of jurisdiction of the Society in any area; or(c)in order to secure proper management of any Society; or(d)in the public interest; or(e)in the interest of depositors; or(f)in the interest of Co-operative movement in the State as a whole; or(g)in the interest of the Co-operative credit structure in the State as a whole, it is necessary to re-organise any Society or Societies or to amalgamate any two or more Societies into a single Society, the Registrar may; after consulting the financing bank of the Society or Societies, by order published in the Official Gazette, direct such re-organisation or amalgamation, as the case may be.(2)The order under Sub-section (1) may provide for -(a)reduction of the interest or rights which the members, depositors, creditors, employees and other persons may have in or against any such Society to be re-organised or amalgamated to such extent as the Registrar considers necessary in the interest of such persons for the maintenance of the business of that Society having due regard to the proportion of the assets of such Society and its liability; and(b)such incidental, consequential and supplemental matters as may, in the opinion of the Registrar, be necessary to give effect to the re-organisation or amalgamation of the Society or Societies.(3)No order under Sub-section (1) shall be made unless the Registrar -(a)has given every Society concerned an opportunity of stating its objections and suggestions on the order proposed to be made; and(b)has considered the objections and suggestions so made by every such Society, or its members, depositors, creditors, employees, or any other persons concerned, within such period, not being less than fifteen days from the date of receipt of the proposed order, as the Registrar may fix in that behalf.(4)An order issued under Sub-Section (1) shall, notwithstanding anything contained in this Act, or in any other law or in any contract, award or instruments for the time being in force, be binding on all Societies and their members, depositors, creditors, employees and other persons having any rights, assets or liabilities in relation to all or any of the concerned Societies.(5)On and from the date the re-organisation or the amalgamation takes effect, the assets and liabilities referred to therein shall stand reorganised or amalgamated, as the case may be, with the assets and liabilities of the resulting Society or Societies formed out of such re-organisation or amalgamation, and the members, creditors and debtors of such Society or Societies shall be deemed to be members, creditors and debtors, as the case may be, of such resulting Society or Societies as ordered by the Registrar.(6)In case of the Society or Societies directed to be re-organised or amalgamated, the registration of the re-organised or merged Society or Societies, as the case may be, shall be deemed to be cancelled from the date on which re-organisation or amalgamation takes effect.(7)Notwithstanding anything contained in the Transfer of Property Act, 4 of 1882 or the Registration Act, 16 of 1908, an order issued under this Section shall be sufficient conveyance to transfer the assets and liabilities of the Society or Societies covered by any order passed under Sub-Section (1).
