Section 75(5) in Jammu and Kashmir Co-Operative Societies Act, 1989
(5)The liquidator shall finalise the liquidation proceedings within a period of six months in case of primary society from the date of his taking over as liquidator and one year in case of other societies. In case the liquidator fails to complete the liquidation proceedings within the stipulated period, he shall make a report to the appointing authority, explaining the reasons for non-finalisation of liquidation proceedings and if the appointing authority is satisfied, it may extend the period by one year more in each case.
