Section 84(2) in The Assam Co-operative Societies Act, 1949
(2)If a majority in number of creditors or the class of creditors, as the case may be, representing claims to three-fourths of the debt due by the society to the creditors or class of creditors, at a meeting agree to any compromise or arrangement and if the Registrar agrees to such compromise or arrangement and gives his sanction then the compromise or the arrangement shall be binding on all the creditors of class of creditors and also on the society or on the liquidator in the case of a society in respect of which an order has been passed for the winding up thereof, and on all persons who may be required by the liquidator to contribute to the assets of the society.
