Section 65 in The M.P. Swayatta Sahakarita Adhiniyam, 1999
65. Final accounts.
(1)A liquidator shall pay the costs of liquidation out of the property of the co-operative and shall pay or make adequate provision for all claims against the co-operative.(2)Subject to the provisions of Section 63 after paying or making adequate provision for all claims against the co-operative, the liquidator shall apply to the Registrar for approval of his final accounts and for permission to distribute in case or in kind the remaining property of the co-operative in accordance with the bye-laws.(3)Where the Registrar approves the final accounts rendered by a liquidator under sub-section (2), he shall :-(a)issue directions with respect to the custody or disposal of the documents and records of the co-operative; and(b)discharge the liquidator.(4)Where the Registrar discharges a liquidator under sub-section (3), the Registrar shall dissolve the co-operative, issue a certificate of dissolution and delete its name from the register of co-operatives.(5)The co-operatives ceases to exist on the date shown in the certificate of dissolution, which shall not be later than two years after the appointment of the liquidator.
