Section 131 in Tamil Nadu Co-operative Societies Rules, 1988
131. Reconveyance of immovable property by a society.
(1)Where an immovable property purchased by a society as decree-holder is in its possession, the society may, with the prior approval of the Registrar and subject to such conditions as may be imposed by him, reconvey such property to the original owner on an application in writing made in this behalf.(2)Along with the application for reconveyance of the property, the original owner shall deposit with the society-(a)the amount at which the property was purchased by the society including stamp duty and other charges paid up to the confirmation of sale;(b)the interest on the above mentioned amount at the maximum lending rate in the case of a credit society or at a rate not less than the maximum borrowing rate, in the case of any other society, from the date of purchase till the date of deposit of the amount; and(c)other expenses incurred in relation to such property.
