Section 109 in The Delhi Co-operative Societies Rules, 2007
109. Procedure to be followed by the Liquidator.
(1)The liquidator shall, as soon as the order of winding up of a co-operative society takes effect, publish by such means as the liquidator may think proper, a notice requiring all claims against the co-operative society to be submitted to him within one month of the publication of the notice. All liabilities recorded in the account book of co-operative society shall be deemed if so facto, have been duly submitted to him under this sub-rule.(2)The liquidator may fix time for the creditors to prove their debts or claims. If no claim is received within two months of the date of order of winding up, the liquidator may refuse to entertain any new claims.(3)The liquidator soon after his appointment shall take charge of the books of accounts and other documents and all its assets of the co-operative society. There shall be prepared immediately on the relevant date a statement of affairs of the co-operative society containing the following particulars namely:-(a)the assets of the co-operative society stating separately the cash balance in -hand and at the Bank, if any, and the negotiable instruments, if any, held by the co-operative society;(b)the debts and liabilities of the co-operative society;(c)the names and addresses and occupation of the creditors stating separately the amount of secured and unsecured debts and in the case of secured debts, particulars of the securities given;(d)the debts due to the co-operative society and the names, residences and occupations of the persons from whom they are due and amount due; and(e)such other information as may be required by the Registrar.(4)The statement required to be prepared under sub-rule (3) shall be made on the basis of the record of the co-operative society; audit reports, and on the basis of the statements made by the members of the committee at the relevant date or by the person who on that date, is the manager, secretary or treasurer or other officer of the co-operative Society. The liquidator shall examine them on oath. This statement shall be submitted by the liquidator to the Registrar within twenty-one days of the date of his appointment or within such extended time not exceeding three months from the date of the said order.(5)The liquidator shall, after setting 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 member or by the estates of nominees, heirs or legal representatives of deceased members or by any officers or former officers to the assets of the co-operative society. If deemed necessary, the liquidator may make a subsidiary order regarding such contributions.(6)As soon as-practicable, after order regarding determinations of contribution under sub-rule (5) has been passed, the liquidator shall settle a list of contributions with powers to rectify the membership register in pursuance of any order which may be passed by the arbitrator or the Registrar in accordance with the provision of the Act and there rules, and shall cause the assets to be collected.(7)In setting the list referred to in sub-rule (6) the liquidator shall distinguish between those who are contributories in their own rights and those who are contributories as being representatives of or liable for the debts of others.(8)The liquidator may at any time after his appointment require any contributory for the same being-on the list of contributories, any trustee, banker, agent or officer of the society to pay, deliver, surrender or transfer forthwith to the liquidator any money, property or books or paper in his hands to which the co-operative society is prima facie entitled.(9)No contributory, for the time being on the list, shall be allowed by way of set off any money claimed to him or to the estate he represents, from the co-operative society, in respect of any independent dealing or contract with the co-operative society.(10)All funds in charge of the liquidator shall be deposited in the Financing Bank in the current account to be opened in the name of the co-operative society under liquidation and shall be deposited by the liquidator in this account within twenty four hour of their receipt. All payments on account of the co-operative society shall be made by cheques drawn by the liquidator in favour of the payee. The liquidator may keep with him a cash balance of one thousand rupees to meet petty expenses on liquidation proceedings.(11)Any order passed by the liquidator under sub-rule (5) shall be submitted by him to the Registrar for his approval. The Registrar may confirm or modify such order or refer it back to the liquidator for further enquiry or action.(12)Any person untruthfully so stating himself as the creditor or the contributory of the cooperative society shall be guilty of the offence under section 182 of the Indian Penal Code. (Act XIV of 1860) and shall on the application of the liquidator criminal proceedings may be in instituted.
