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[Cites 0, Cited by 2] [Section 48] [Entire Act]

State of Odisha - Subsection

Section 48(2) in The Orissa Co-operative Societies Act, 1962

(2)If a Society in which shares are purchased from the 'Subsidiary State Partnership Fund' is wound up or is dissolved, neither the State Government nor the Apex Society shall have any claim against the Central Society which purchased the shares in respect of any loss arising from such purchase; but Apex Society shall be entitled to any moneys received by the Central Society in liquidation proceedings or in dissolution, as the case may be, and such moneys shall be credited to the 'Principal State Partnership Fund'.