Section 53 in The Orissa Self-Help Co-operatives Act, 2001
53. Dissolution by members.
(1)A Co-operative may, by a special resolution, move for its own dissolution :Provided that a notice of the general body meeting shall be sent by registered post with an invitation to attend such meeting, to the Registrar, to the creditors, if any, to any Secondary Co-operative to which the Co-operative is affiliated, and to any Co-operative(s) with which a partnership contract has been entered into.(2)Invitees specified under the proviso of Sub-section (1) shall have the right to make a representation to the general body, if they so wish, on the issue of the proposed dissolution.(3)Within fifteen days of such move for dissolution, the Co-operative shall send to the Registrar a copy by registered post of the move to dissolve the Co-operative.(4)The move approved in pursuance of Sub-section (1) is required to set out -(a)the assets and liabilities of the Co-operative;(b)the up-to-date audit report;(c)the claims of creditors;(d)the number of members;(e)the nature and extent of the members' interest in the Co-operative; and(f)the name and address of the liquidator appointed by the Co-operative.(5)When the Registrar receives the special resolution passed in pursuance of Sub-section (1) -(i)where the Co-operative has no assets and liabilities, he/she may dissolve the Co-operative, strike off its name from the register of Co-operative and issue a certificate of dissolution; and(ii)where the Co-operative has assets or liabilities, the liquidator shall, within thirty days from the date of passing of special resolution, cause at the expense of the Co-operative a notice of the special resolution to be published once in the gazette and once a week for two consecutive weeks in a newspaper published or distributed in the district where the registered office of the Co-operative is located.(6)In the case of dissolution, under Sub-section (5) above, the Registrar may require, till the certificate of dissolution is issued by him/her, from the liquidator appointed by the Co-operative or any other person who is required to furnish information, a periodical return showing-(a)the progress of dissolution;(b)the distribution of any undistributed surplus or reserve; and(c)any other relevant information that he/she may require.
