Section 72 in Kerala Cooperative Societies Act, 1969
72. Liquidator.
(1)Where the Registrar has made an order under section 71 for the winding up of a society, he shall appoint a liquidator for the purpose and may fix his remuneration.(2)The liquidator shall, on appointment, take into his custody or under his control all the property, effects and actionable claims to which the society is or appears to be entitled and shall take such steps as he may deem necessary or expedient to prevent loss or deterioration of, or damage to, such property, effects and claim.(3)Where an appeal is preferred under section [83] [Substituted '82' by Kerala Act No. 38 of 1971.], against an order of winding up of a society made under section 71 such order shall not operate thereafter until it is confirmed in appeal:Provided that the liquidator shall continue to have custody or control of the property, effects and actionable claims mentioned in sub-section (2) and to have authority to take the steps referred to in that sub-section.(4)Where an order of winding up of a society is set aside in appeal, the property, effects and actionable claims of the society shall re-vest in the society.
