Section 12(5)(a) in The Karnataka Souharda Sahakari Act, 1997

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State of Karnataka - Subsection

Section 12(5)(a) in The Karnataka Souharda Sahakari Act, 1997

(a)in case of change of liability or transfer of assets and liabilities,-

(i)the members, union Co-operative, Federal Co-operative and creditors have consented or are deemed to have consented to the resolution under subsection (3) or sub-section (4), as the case may be; or

(ii)all claims of the members, union Co-operatives, Federal Co-operative and creditors who have exercised the option referred to under subsection (3) within the period specified therein, have been met in full or otherwise satisfied; and

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State of Karnataka - Subsection

Section 12(5)(a) in The Karnataka Souharda Sahakari Act, 1997