Section 96(1) in The Orissa Co-operative Societies Act, 1962
(1)The Board may, on the application of a [Co-operative Agricultural and Rural Development Bank] [Substituted by Orissa Act No. 23 of 1994 Section 5, dated 4.11.1994.] and under circumstances in which the powers of sale conferred by Section 91 may be exercised, appoint in writing a receiver of the produce and income of the mortgaged property or any part thereof and such receiver, shall be entitled either to take possession of the property or collect its produce and income, as the case may be, to retain out of any money realised by him, his expenses of management including his remuneration, if any, as may be fixed by the Board, and to apply the balance in accordance with the provisions, of Sub-Section (8) of Section 69-A of the Transfer of Property Act, 4 of 1882.
