Section 113(1) in Mizoram Cooperative Societies Act, 2006
(1)The liquidator appointed under section 111(1) shall have the following powers subject to the overall supervision, control and direction of Registrar:(a)to institute and defend suits and other legal proceedings on behalf of co-operative by the name of his office;(b)to determine from time to time the contribution (including debts due and costs of liquidation) to be made or remaining to be made by members or past members or by the estates or nominees, heirs or legal representatives of deceased members or by officers or former officers, to the assets of the co-operative;(c)to investigate all claims against co-operative and subject to the provisions of this Act, to decide questions of priority between claimants;(d)to pay claims against the co-operative, including interest up to the date of winding up according to their respective priorities, if any, in full or rateably, as the assets of co-operative may permit: and the surplus, if any, remaining after payment of claims being applied in payment of interest from the date of such an order of winding up at a rate fixed by the liquidator but not exceeding the contracted rate in any case;(e)to determine by which persons or authorities and in what proportions the cost of liquidation proceedings are to be borne;(f)to determine whether any person is a member or past member or nominee of a deceased member;(g)to give such direction in regard to the collection an distribution tte assets a co-operative as may appear to the liquidator to be necessary for winding up the affairs of such co-operative;(h)to carryon the business of co-operative under winding up so far as may be found necessary and essential for the beneficial winding up of the same co-operative;(i)to make any compromise or arrangement with creditors or persons claiming to be creditors or having or alleging to have any claim, present or future, whereby the co-operative may be rendered liable;(j)to make any compromise or arrangement with Any person between whom and the co-operative there exists any dispute and to refer any such dispute for decision; .(k)after consulting the members of the co-operative, to dispose of the surplus, If any, remaining after paying the claims against the co-operative, in such manner as may be prescribed;(l)to compromise all calls or liabilities to calls and debts and liabilities capable of resulting in debts, and all claims, present or future, certai1 or contingent, subsisting or alleged to be subsisting between the co-operative and a contributory or other debtor or person apprehending liability to the co-operative and all questions in any way relating to or affecting the assets or the winding up of the co-operative on such terms as may be agreed and take any security for the discharge of any such call, liability debt or claim and give a complete discharge in respect thereof:(m)to sell the immovable and movable property and actionable claims of the co-operative by public auction or private contract, with power to transfer the whole or part thereof to any person or body corporate or sell the same if parts,
