Section 111 in The Delhi Co-operative Societies Rules, 2007
111. Preferential Payments.
- In winding up proceedings, there shall be paid in priority to all other debts and liabilities of the co-operative society under liquidation, the following dues or debts:-(a)All Government dues, all revenues, taxes, cess and debts due from the cooperative society to the Government or to the local authority at the relevant date and having become due and payable within two years next before that date;(b)All wages or salary of any employee in respect of services rendered to the cooperative society;(c)All dues of the Financing Bank and Apex Society as defined in clause (b) of section 74 of the Act;(d)The debts mentioned in the clause (a) and clause (b) shall rank equally amongst themselves and are paid in full, unless the assets are insufficient to meet them, in which case they shall abate in equal proportion.
