Section 19 in The Maharashtra Co-Operative Societies Act, 1960
19. Reconstruction of societies.
- Where a proposal for a compromise or arrangement-(a)between a society and its creditors, or(b)between a society and its members,is approved at a special general meeting called for the purpose, the Registrar may on the application of the society or of any member or of any creditor of the society, or in the case of a society which is being wound up, of the liquidator, order reconstruction in the prescribed manner, of the society.
