Section 65 in The Delhi Co-operative Societies Rules, 2007
65. Raising of Funds of Co-operative Societies.
(1)Every co-operative society, having a share capital shall provide in the bye-laws, the maximum amount of such share capital, the number of shares into which it is divided, the class of shares, the face value of each share of each class and the rights and liabilities attaching to each class of shares and in case the full amount of the shares is not payable on allotment, the amount and the number of installments required to be paid and such other incidental matters.(2)Any co-operative society, authorized under its bye-laws to raise funds by the issue of debentures and bonds may, with the prior sanction of the Registrar, frame regulations regarding the maximum amount to be raised by the issue of debentures and bonds, the class or classes of debentures and bonds, the face value of each-debenture or bond, the date for redemptions of debentures or bonds the rate of interest payable, the terms and conditions regarding transfer of debentures and bonds and other incidental matters.(3)The total amount of debentures and bonds issued at any time together with the other liabilities incurred by the co-operative society shall not exceed the maximum amount the co-operative society can borrow under the provisions of rule 64 of these rules, and the bye-laws.(4)The Registrar may, by general or special order, lay down such additional conditions as the co-operative societies may receive deposits, issue debentures or raise loans from any creditor other than the Financing Bank.
