Section 18A(2) in The Maharashtra Cooperative Societies Rules, 1961
(2)He shall have the following powers for the purposes of realising the assets and for liquidating the liabilities of society which is de-registered under the provisions of subsection (1) of Section 21A, namely,-(a)he shall have powers to institute and defend any suit and other legal proceedings, civil and criminal, on behalf of the de-registered society in the name of his office;(b)to carry on the business of the society, so far as may be necessary for the beneficial completion of the de-registration proceedings;(c)to sell such immovable and movable property and actionable claims of the de-registered society generally by public auction or in exceptional cases by private contract with prior approval of the Registrar;(d)to investigate all the claims against the de-registered society and subject to the provisions of the Act, to decide questions of priority arising out of such claims and to pay any class or classes of creditors in full or retable according to the amount of such debts. However, the Official Assignee shall pay all the liabilities in the following priority, namely-(i)his salaries, remuneration, allowances and other claims;(ii)wages and other payments to be made to the employees of the de-registered society including arrears;(iii)expenses required for beneficial completion of de-registration proceedings;(iv)taxes, charges, fees and revenues, etc. payable under any other law for the time being in force and such other dues which are recoverable as arrears of land revenue;(v)any dues payable under the decree of any Court;(vi)deposits;(vii)loans payable to Government of India;(viii)loans payable to the State Government;(ix)any other dues payable to the Government of India;(x)any other dues payable to the State Government;(xi)loans guaranteed by the Government of India;(xii)loans guaranteed by the State Government;(xiii)secured loans;(xiv)unsecured loans;(xv)shares of Government of India;(xvi)shares of State Government;(xvii)shares of any financial institution:(xviii)shares of Co-operative Societies;(xix)shares of other body corporates;(xx)shares of members.(xxi)[ other dues, if any.](e)to make any compromise or arrangement, with creditors or persons claiming to be the creditors of having or alleging themselves to have any claims, present or future, whereby he may be rendered liable;(f)to compromise all calls, or liabilities to calls, and debts and liabilities capable of resulting in debts, and all claims present or future, certain or contingent, subsisting or supposed to subsist between him and contributory or alleged contributory or other debtors or person apprehending liability to him and all questions in any way relating to or affecting the assets of de-registration proceedings on such terms as may be agreed, and to take any security for the discharge of any such calls, liability, debt or claim and give a complete discharge in respect thereof:(g)to determine from time to time, after giving an opportunity to answer the claims, the contribution to be made, or remaining to be made by the members or past members of the de-registered society or by the estates, nominees, heirs or legal representatives of the deceased members of de-registered society, or by the officer, post officer of the estate or nominee, heirs or legal representatives of deceased officer to the assets of de-registered society, such contribution being inclusive of debts and dues from such members or officers of the de-registered society;(h)to determine from whom and in what proportion the cost of de-registration and that of the proceedings of de-registration shall be borne;(i)to fix the time or times within which the creditors shall prove their debts and claims;(j)to summon and enforce the attendance of witnesses and to compel the production of any books, accounts, documents/securities, cash or other properties belonging to the society de-registered which have vested in him but are in the possession of any person or body corporate by same means and in the same manner as provided in the case of civil case under the Code of Civil Procedure, 1908;(k)to do all acts and to execute in his name on behalf of the society de-registered all deeds, receipts and other documents as may be necessary for finalisation of proceedings of de-registration.
