Section 43 in Telangana Mutually Aided Co-Operative Societies Act, 1995
43. Powers of liquidators.
(1)The liquidator may, -(a)[ [XXX] [Omitted by G.O.Ms.No.28, Agriculture and Co-operation (Coop.II) Department, dated 19.04.2016.](b)bring, defend or take part in any civil, criminal or, administrative action or proceeding in the name and on behalf of the Co-operative Society;(c)carry on the business of the Co-operative Society as required for an orderly liquidation;(d)shall by public auction any property of the Co-operative Society;(e)do all acts and execute any documents in the name and on behalf of the Co-operative Society;(f)borrow money on the security of the property of the Co-operative Society;(g)settle or compromise any claims by or against the Co-operative Society; and(h)do all other things that he considers necessary for the liquidation of the Co-operative Society and distribution of its property.(2)[ Where a liquidator has reason to believe that any person has in his possession or under his control or has concealed, withheld or misappropriated any property of the co-operative society, he may apply to the Co-operative Tribunal for an order requiring that person to appear before the Court at the time and place designated in the order and to be examined.] [Substituted by G.O.Ms.No.28, Agriculture and Co-operation (Coop.II) Department, dated 19.04.2016.](3)[ Where the examination mentioned in sub-section(2)discloses that a person has concealed, withheld or misappropriated property of the Co-operative Society, the Co-operative Tribunal may order that person to restore the property or pay compensation to the liquidator on behalf of the Co-operative Society.] [Substituted by G.O.Ms.No.28, Agriculture and Co-operation (Coop.II) Department, dated 19.04.2016.](4)No liquidator shall purchase, directly or indirectly, an part of the stock-in-trade, debts or assets of the Co-operative Society.
