(1) If the Registrar is satisfied that any society is registered on mis-representation made by applicants, or where the work of the society is completed or exhausted 1 This proviso was added by Mah. 34 of 2001, s. 2.
2 Section 20A was inserted by Mah. 20 of 1986, s. 10.
3 This portion was inserted by Mah. 10 of 1988, s. 4.
4 This proviso was added by Mah. 34 of 2001, s. 3.
5 These words, brackets, figures and letter were inserted by Mah. 10 of 1988, s. 5.
6 This portion was inserted by Mah. 33 of 1963, s. 4.
7 The portion beginning with the words “or it has not commenced business” and ending with the words “be cancelled” was deleted by Mah. 3 of 1974, s. 5.
8 Section 21A was inserted by Mah. 20 of 1986, s. 11.
1961 : Mah. XXIV] The Maharashtra Co-operative Societies Act, 1960 29 or the purposes for which the society has been registered are not served 1[or any primary agricultural co-operative credit society using the word ‘Bank’, ‘Banking’, ‘Banker’ or any other derivative of the word ‘Bank’ in its name,] he may, after giving an opportunity of being heard to the Chief Promoter, the committee and the members of the society, de-register the society:
Provided that, where the number of members of the society is so large and it is not possible to ascertain the correct addresses of all such members from the records in the office of the Registrar and, in the opinion of the Registrar it is not practicable to serve a notice of hearing on each such individual member, a public notice of the proceedings of the de-registration shall be given in the prescribed manner and such notice shall be deemed to be notice to all the members of the society including the Chief Promoter and the members of the Committee of the Society, and no proceeding in respect of the de-registration of the society shall be called in question in any Court merely on the ground that individual notice is not served on any such member.
(2) When a society is de-registered under the provisions of sub-section (1), the Registrar may, notwithstanding anything contained in this Act or any other law for the time being in force, make such incidental and consequential orders including appointment of Official Assignee as the circumstances may require.
(3) Subject to the rules made under this Act, the Official Assignee shall realise the assets and liquidate the liabilities within a period of one year from the date he takes over the charge of property, assets, books, records and other documents, which period may, at the discretion of the Registrar, be extended from time to time, so however, that the total period does not exceed three years in the aggregate.
(4) The Official Assignee shall be paid such remuneration and allowances as may be prescribed;
and he shall not be entitled to any remuneration whatever beyond the prescribed remuneration or allowances.
(5) The powers of the Registrar under sub-sections (1) and (2) shall not be exercised by any 2[officer below the rank of a Joint Registrar of Co-operative Societies].]
CHAPTER III MEMBERS AND THEIR RIGHTS AND LIABILITIES