Section 84(2) in Sikkim Co-Operative Societies Act, 1955
(2)If a majority in number of creditors or the class of creditors as the case may be, representing claims to three' fourths of the debts due by the society to the creditors or class of creditors, at a meeting agree to any compromise or arrangement and if the Registrar agrees to such compromise or arrangement and gives his sanction then the compromise or the arrangement shall be binding on all the creditors or class of creditors and also on the society or on the liquidator in the case of a society in respect of which an order has been passed for winding up thereof and of all persons who may be required by the registrar to contribute to the assets, of the society.
