Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Entire Act]

State of Himachal Pradesh - Section

Section 108 in Himachal Pradesh Co-Operative Societies Rules, 1971

108. Procedure to be adopted by the Liquidator.

(1)The Liquidator on appointment, shall prepare an up-to-date list of -
(a)members;
(b)past-members, with dates of their withdrawal, who are subject to liabilities under section 29; and
(c)deceased members, with dates of their death, names of their legal heirs who represent their estate, and who are subject to liability under section 29.
(2)The Liquidator shall, as soon as the order of winding up of the society takes effect, publish in such manner as the Registrar may direct a notice set forth in the schedule, requiring all claims against the society the winding up of which has been ordered, to be submitted to him within 45 days of publication of the notice. All liabilities recorded in the account books of the society shall be deemed ipso facto to have been duly submitted to him under this clause.
(3)The Liquidator shall after ascertaining the assets and liabilities of the society as they stood on the date of his appointment under rule 106, proceed next to determine the contributions (including debts due) to be made by each of its members or by the estates of the nominees, heirs or legal representatives of deceased members or by any officers or former officers, to the assets of the society under section 80. If, necessity arises, he may also frame a subsidiary order, or orders, regarding such contributions and such orders and the original orders shall be enforceable under section 88. Every order issued by the Liquidator under this rule shall be called the 'contribution order' and shall be enforceable under section 88 of the Act.
(4)The Liquidator shall submit to the Registrar such periodical reports, and statements, showing the progress made in the liquidation proceedings as the Registrar may require.
(5)Subject to the approval of the Registrar, the Liquidator may appoint staff to assist him in the discharge of his duties.
(6)The Liquidator may empower any person from among the members of the liquidation committee, if any, or from among the staff appointed under sub-rule (5) of this rule, or in its absence, any other person, by general or special order in writing to make collections and grant valid receipts on his behalf.
(7)The remuneration of the Liquidator fixed under sub-section (1) of section 79 and also that which is to be given to the staff appointed under sub-rule (6) of this rule shall be included in the cost of winding up which shall be payable out of the assets of the society in priority to all other claims.
(8)All funds in the charge of the Liquidator shall be deposited with such institution or person and in such manner as the Registrar may approve.
(9)The Liquidator may, at any time, call such meetings of the members or of the creditors, or joint meetings of the members, and creditors; and such meetings shall be called, held and conducted at such time and place and in such manner as the Liquidator thinks fit.
(10)The Liquidator shall call the annual general meeting of the society during each co-operative year to consider the Annual Audit Report or any other point which may be specified by the Registrar or he may desire to bring into the notice of the House.
(11)All the meetings called under sub-rule (9) and (10) shall be presided by a Chairman of the meeting, especially elected for the purpose, from among the members present.