Section 86 in The Orissa Co-operative Societies Rules, 1965
86. Duties of the liquidator.
- [(1) Liquidator on his appointment shall take over charge of the books of accounts, documents and all the properties, assets and actionable claims to which the society is entitled and shall take such steps as he may deem necessary and expedient to prevent loss or deterioration of or damage to such property, assets, claims and assets of the society, and give notice of his appointment as such, publishing by such means as the Registrar may direct, requiring all the persons either indebted to the society to tender account thereof and pay the same, or in possession or custody of any property of the society to deliver it, or having any claim against the society to write to him with particulars thereof, within the time specified thereunder which shall not exceed in any case a period of 2 months from the date of such publication.] [Substituted vide Orissa Gazette Extraordinary No. 500 dated 23.4.1997.](2)The liquidator after taking over charge shall prepare an up-to-date list of(a)members;(b)past members with date of their withdrawal who are subject to liability under Section 25; and(c)deceased members, with dates of their decease, names of their legal heirs who represent their estate who are subject to liabilities under Section 25.(3)Draw up final balance sheet as it stands on the date of the order of winding up.(4)The Liquidator shall keep such books and accounts may from time to time be laid down by the Registrar who may at any time cause such books and accounts to be audited [* * *] [Deleted vide Orissa Gazette Extraordinary No. 500 dated 23.4.1997.].(5)[ The liquidator may distribute the profits earned by the society prior to the date of liquidation in accordance with the provisions of the act, rules and bye-laws after discharging liabilities.] [Substituted vide Orissa Gazette Extraordinary No. 500 dated 23.4.1997.](6)The liquidator shall, after setting the assets and liabilities of the Society as these stood on the date of order of winding up, proceed next to determine the contribution to be made by such of its members, heirs or legal representatives of deceased members or by any [present or past officers or office bearers] [Substituted vide Orissa Gazette Extraordinary No. 500 dated 23.4.1997.] to the assets of the Society under Clauses (b) and (c) of Sub-Section (2) of Section 75 of the Act. Should necessity arise, however, he may also frame subsidiary order or orders or regarding such contribution and such orders shall be enforceable in the same manner as the original orders themselves.(7)The Registrar may issue instruction laying down the principles on which and the manner in which the contribution shall be determined and the Liquidator shall act according to these instructions.
