Section 125A(1)(a) in The U.P. Co-operative Societies Act, 1965

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State of Uttar Pradesh - Subsection

Section 125A(1)(a) in The U.P. Co-operative Societies Act, 1965

(a)Notwithstanding anything to the contrary contained in any other provision of this Act or the rules made thereunder or the bye-laws of the societies concerned or in any other law for the time being in force, where a Co-operative Sugar Mill in which Majority of shares are held by the State Government, and the State Government is satisfied that neither the Sugar Mill is being run as sound business nor there is any chance of it being run as sound business, it may recommend the Registrar to transfer such Co-operative Sugar Mill to any other society, company, firm or body and on the receipt of the recommendation of the State Government, the Registrar shall after consulting the financing Bank or financing institution, if any, to which such sugar mill is indebted, call upon the committee concerned by notice it writing containing such particulars as may be prescribed and within such time as may be specified in the notice to transfer its assets or its assets and liabilities in whole or part, to any other society or a company or a firm or a body, whether incorporated or not, on such terms and conditions as may be formulated in the manner prescribed, and on such transfer the society formed for such sugar mill under this Act shall stand dissolved.

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State of Uttar Pradesh - Subsection

Section 125A(1)(a) in The U.P. Co-operative Societies Act, 1965