Section 58 in The Punjab Co-operative Societies Rules, 1963
58. Procedures to be followed by liquidators. [Sections 59 (1) and 85 (2) (xviii)]
(1)The liquidator shall as soon as the order of winding up of the co-operative society takes effect publish by such means as he may think proper, a notice requiring all claims against the co-operative society, the winding up of which has been ordered to be submitted to him within one month of the publication of the notice. All liabilities recorded in the account books of a co-operative society shall be deemed ipso facto to have been duly submitted to him under this sub-rule.(2)The liquidator shall, be after settling the assets and liabilities of the co-operative society as they stood on the date on which the order for winding up is made, proceed next to determine the contribution to be made by each of its 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 Co-operative Society under clauses (b) and (e) of sub- section (2) of section 59. Should necessity arise, he may make a subsidiary order regarding such contributions and such order shall be enforceable in the same manner as the original order.(3)The liquidator may, at any time, call a meeting of the members or of the creditors' or a joint meeting of the members and creditors and such meeting shall be called, held and conducted at such time and place and in such manner as the liquidator may deem fit.
