Section 48(5) in The Karnataka Souharda Sahakari Act, 1997
(5)If the Registrar after considering the reply, if any, is satisfied.-(i)that the Co-operative has no assets and liabilities, he shall issue a certificate that the Co-operative has been wound up and cancel the registration of such Co-operative forthwith; or(ii)that the Co-operative has assets and liabilities, he shall on receipt of a report from the Chief Executive of such Co-operative that a liquidator has not been appointed by the general body after a resolution to wind up has been passed,appoint a liquidator and communicate the same to the Co-operative and the Federal Co-operative.
