Section 77(2) in Himachal Pradesh Co-Operative Societies Act, 1968
(2)If a majority in number of the creditors or the class of the creditors, as the case may be, representing claims to three-fourth of the debts due by the society to the creditors, or the class of the creditors, present either in person or by proxy at the meeting, agree to any compromise or arrangement, the compromise or arrangement shall, if sanctioned by the Registrar, upon publication in the prescribed manner be binding on all the creditors or the class of creditors, as the case may be, and also on the society or, in the case of a society in respect of which an order has been passed for the winding up thereof, on the liquidator and on all persons who have been or may be required by the liquidator under section 80 to contribute to the assets of the society.
