Section 111(9) in West Bengal Co-operative Societies Act, 2006
(9)Movable properties and actionable claims of the Co-operative society shall be sold to the highest bidder in public auction or to the person who has quoted highest price. For disposal of the immovable properties. the liquidator shall collect the prevailing market rate from the office of the Sub-Registrar of the area and after fixing a minimum price, he shall invite quotations and sell such properties to the person who has quoted highest price. In both the cases of movable and immovable properties, the disposal committee shall select the person who has offered the highest price :Provided that no liquidator or his relatives shall purchase directly or indirectly any part of the assets of the Co-operative society.
