Section 42(2) in Jharkhand Co-operative Societies Act, 2008
(2)(i)A self -supporting co-operative society may, by a special resolution, authorise its own dissolution:Provided that a notice of the general meeting shall also be sent with an invitation to attend, to the Registrar, to any federation of which the Cooperative Society is affiliated, to creditors and to any organisation with which a partnership contract has been entered into.(ii)Invitees under the proviso of sub section 1 have the right to make representation to the General Body if they so wish to, giving reason why dissolution is not called for.(iii)Within fifteen days of such authorisation for dissolution, the registd society shall send to the Registrar a copy of the authorisation to dissolve the co-operative society.(iv)The authorisation approved in pursuance of sub section 1 shall be required to set out the following namely : -a. The assets and liabilities of the cooperative societies.b. The claim of creditors.c. The number of membersd. The nature and extent of the members' interest in the co-operative society; ande. The name of the liquidator if appointed by the General Body or a request to the Registrar to appoint the liquidator or a request to the Registrar to issue a certificate of dissolution where there are no assets and liabilities.(v)Where the Registrar receives a special resolution passed in pursuance of sub section 1 he shall cause at the expanse of the co-operative society a notice of the special resolution to be published once a week for two weeks in a newspaper published or distributed in the district where the registered office of the co-operative society is located.(vi)The Registrar may require from the society, the liquidator appointed in the society or any other person who is required to furnish information a periodical return showing (a) The progress of dissolution (b) the distribution of any undistributed surplus or reserve; and (c) any other relevant information that he may require.(vi)Dissolution by Tribunal: - The Registrar or an interested person may, after giving the Self Supporting Co-operative Society ninety days notice of the proposed application apply to the Tribunal for an order dissolving the Cooperative Society, where he has reasonable cause to believe that the Cooperative Society has no right to be or to continue to be recognised as a cooperative society because it, -(a)obtained its registration by fraud or mistake;(b)is serving illegal purposes,(c)has willfully after notice by the Registrar, violated any of the provisions of this Act or its bye laws;(d)is no longer operating in accordance with the co-operative principles and provisions of this Act:(e)has not commenced business within two years of the date of registration; and(f)has not carried on business for the part two consecutive years.(vii)Where an interested person applies in pursuance of this section he shall give the Registrar notice of his application and the Registrar shall be entitled to appear and be heard in person or through a counsel.(viii)Where the Tribunal receives an application in pursuance of this section it may, after giving a reasonable opportunity to the Self Supporting Co-operative Society to state its case order that the Co-operative Society be dissolved and liquidated and dissolved under the supervision of the Registrar.(ix)Where the Registrar receives an order made in pursuance of sub section (viii) he shall (a) where the order is to dissolve the Self Supporting Co-operative Society issue a certificate of dissolution or (b) where the order is to liquidate and dissolve the co-operative society under the supervision of the Registrar, publish a notice in a newspaper published or distributed in the district in which the registered office of the Self Supporting Co-operative Society is situated.
