(1) A liquidator shall pay the costs of liquidation out of the property of the cooperative society and shall pay or make adequate provision for all claims against the co-operative society.
(2) Subject to the provisions of section 102 after paying or making adequate provision for all claims against the co-operative society, the liquidator shall apply to the Registrar for approval of his final accounts and for permission to distribute in cash or in kind, the remaining property of the co-operative society in accordance with the rules.
(3) Where the Registrar approves the final accounts rendered by a liquidator under sub-section (2), he shall -
(i) issue directions with respect to the custody or disposal of the documents and records of the co-operative society; and
(ii) discharge the liquidator.
(4) Where the Registrar discharges a liquidator under sub-section (3) the Registrar shall dissolve the co-operative society, issue a certificate of dissolution and delete its name from the register of co-operative societies.
(5) The co-operative society ceases to exist on the date shown in the certificate of dissolution, which shall not be later than seven hundred and thirty days after the appointment of the liquidator.
(6) An order passed under sub-section (1) shall be communicated by registered post to the president of the co-operative society and to the financing bank or federal co-operative society to which co-operative society if indebted, if any, of which the co-operative society was a member.
CHAPTER - XI EXECUTION OF AWARDS, DECREES, ORDERS AND DECISIONS Enforcement of charge.
104. Notwithstanding anything contained in Chapter VIII or any other law for the time being in force, but without prejudice to any other mode of recovery provided in this Act, the Registrar or any person subordinate to him empowered by the Registrar in this behalf may on the application of a co-operative society, make an order directing the payment of any debt or outstanding demand due to the co-operative society by any member or past or deceased member, by sale of the property or any interest therein, which is subject to a charge under section 45 :
Provided that no order shall be made under this section unless the member, past member or the nominee, heir or legal representative of the deceased member, has been served with a notice in the manner prescribed.
Execution of orders, etc.
105. Every decision award or order duly passed by the Registrar or the arbitrator (substituted vide Notification No. F.14(31)/LA-2004/16 dated 17/01/2005) or the Tribunal, or the Government under section 31, section 32, section 33, section 66, section 71, section 104, section 110, section 112, section 114, section 115, section 116 or any other provisions of this Act shall, if not carried out -
(a) where the decision, award or order provides for the recovery of money, be executed according to the law for the time being in force relating to the recovery of land revenue :
Provided that an application for the recovery of any sum in the manner aforesaid shall be made to the Collector and shall be accompanied by a certificate signed by the Registrar or by any person subordinate to him and empowered by the Registrar in this behalf;
(b) in any other case be executed by the Registrar or any person subordinate to him and empowered by the Registrar in this behalf, in the same manner as is provided in the case of a civil court by the Code of Civil Procedure, 1908 (5 of 1908).
Execution of orders of liquidator.
106. The orders of the liquidator under section 101 shall be executed according to the Act and under the rules for the time being in force for the recovery of arrears of land revenues.
Attachment before award.
107. Where the Registrar is satisfied that a party to any reference made to him under section 70 with intent to defeat or delay the execution of any decision that may be passed thereon is about to -
(a) dispose of the whole or any part of the property; or
(b) remove the whole or any part of the property from the local limits of the jurisdiction of the Registrar;
the Registrar may, unless adequate security is furnished, direct the conditional attachment of the said property or such part thereof as he thinks necessary and such attachment shall be executed as if by a civil court having jurisdiction in the same way as an attachment order passed by itself and shall have the same effect as such an order:
Provided that the powers of the Registrar under this section shall not be delegated to any officer below such rank as may be prescribed.
Recovery of debt.