Section 54(3) in Jammu and Kashmir Co-operative Societies Rules, 2001
(3)Where a direction is made for the attachment of any property under sub-rule (1), the recovery officer shall order the attachment to be withdrawn:(a)When the party concerned furnishes the security required, together with security for the costs of the attachment; or(b)When the liquidator determines under clause (d) of sub-section (2) of section 76 of the Act that no contribution is payable by the party concerned; or(c)When the Registrar passes an order under sub-section (1) of section 69 that the party concerned need not repay or restore any money or property or contribution any sum to the assets of the society by way of compensation; or(d)When the dispute referred to in sub-section (1) of sections 70, 71, 72 and rule 39 (1) of these rules has been decided against the party at whose instance the attachment was made.
