(1) When in any execution of an order sought to be executed under section 98, any property cannot be sold for want of buyers, if such property is in occupancy of the defaulter or some perSOn in his behalf, or of some person claiming under a. title created by the defaulter subsequently to the iSSue of the certificate of the Registrar or Liquidator under clause (a) or (b) of section 98, the Court, Collector Amendments
1.. These words were substituted for words in the same section 91' the principal Act by Men, Act 12 of 1984, section 13, 4?)
Decision of Register or his nominee or board of nominees.
Appeal against decision of Register 01‘ his nominee or board of nominees.
Money how recovered.
Private transfer of property made after issue of certificate void againlt society.
Transfer of property which eennot be sold.
N “ “3 » or the Registrar, as the case may he. may, notwithstanding anything contained in any law for the time being in mate, direet that the eaid pfflperty 01‘ any yortion. thereef shalt he treheiferred t0 the Society Which has applied for the ezeeutiea of the mid order, in the manner prescribed.
(2) Where property is tr. nsterreai to that» society under the foregoing sub-sec tien, or where 'px‘operty is 801d under section 98, the Court, the Collector 01' the Registrar, as the eeSe be, may, in accordance With the rules, piece the Society or the purehz-teer, as the (332.5272 may be, in possession of the property transferred or 3036;
(3) Subject to such rules as may Ee made is this heheif, and to any rights, encumbrances, eharges 01’ eguitiee QaWfiLHy subsisting in favour of any person, such praqaerty or portion theseof shall be held under sub-section (1) by the said seciety on such terms and conditions as may be agreed upon between the Gourt, the Coileeter or the Registxet, as the case may be, and the aii society. Subject to the general or special orders of the State Govei‘hment, the {‘Soiieeter or the Registrar may delegate to an officer, net below the rank of the Sub-S‘ieputy Collector or the Assistant Registrar, powers exercisab‘ie by the Collector 01‘ the Registrar under this seeti=;n.
5”“,st D; 101. (1) Notwithstam‘ii‘hg eseything centaihed in sections. 91, 93 wrap 1mm. and 98 on an apphcation mace by a resource society, undertaking the financing of agriculturists towerds providing of their seesanal repuire= ments, for recovery ef arears ef any sum advanced and on its furnishing a statement of accounts in respect of the arrears, the Registrar, may, after making such inquiries as he deems fit, grant a.
certificate fer the recOVery of the amouh‘t stated therein to he due as arrears of revenue.
(.2) Where the Registrar is satisfied that e. reeuurce society has failed to take action under the feregeing eub-seetion in respect of arrears of any sum advanced by it to any of its mem bers, the Registrar may, of his own motion, after making such inquiries as he deems fit, grant a certificate for the recovery of the amount stated. therein to be due as arrears of revenue, and such certificate shall. be deemed. to haVe been issued at if on an appiieetien made by the Society concerned.
(3) A certificate granted by the Begietrar under enb-Seetion (1) or (2) shall be final and a conclusive proof of the arrears stated to be due therein, and the same shall be recoverabie aceording to the law for thejtime being in force for the recovery of land revenue.
(4) Notwithstanding anything contained in this Act, the provis sions of subsections (1), (2) and (3} shah, mutatis mutandie, ePPEY E to the I'eeeVery of medium term leaner! :
(JHAPTEB X LIQUIDATION 1(32. (1) If the RegiStrar,— (3.) after an inquiry has been held under section 8 or an inspection has been made under section 84c 01' en the report of the Auditor auditing the accounts of the society, 01'
(b) on receipt of an application made upon a. resolution carried by three-fourths of the members of the society present at a special general meeting called for the purpose, 01'
(c) of his own motion, in the ease of a society Which»
(i) has not commenced working, or
(ii) has ceased working, or
(iii) possessas shares or members’ (iepoeits not exceedihg five hundred rupees, or
(iv) has ceased to comply With any couditiens as to registration and management in this Act or the rules or the bye-laws, is of the opinion that a. society ought to be wound up, he may-issue an interim order directing it “be be Wound up.
(2) A copy of such order made under sub-section (1) shall be communicated, in the prescribed manner, to the society calling upon it to submit its exyienebion to the Registrar Within a, month from the date of the issue of such order, and the Registrar, on giving an opportunity to the society of being heard, may issue a. final order, vacating or confirming the interim order.
103. When an interim order is passed under the last preceding seetion or a. final order is passed under that section for the winding up of a. society, the Registrar, may, in accordance with the rules, appoint a persen to be Liquidator of the society, and fix his remuneration.
(2) 0n issue of the interim order, the officers of the society shall hand over to the Liquidator the custody and control of all the property, effects and actionable claims to which the society ie or appear to be entitled and of all books, records and ether documents pertaining te the business of the society and, shah have no access to any of them,
(3) When a final order is passed eenfirming the interim order, the officers of the society shall vacate their offices, and while the Winding up order remains in force, the general body of the society shall not exercise any power.
(4) The person appointed under this section as Liquidator shall, subject to the general control of the Registrar, exerciSe 3.11 or any of the powers mentioned in section 105. The Registrar may remove , such person and, 1.9931118 another in his: place, Witheut assigning any reason.
Winding L11).
Appointment of Liquidator .
46 Appeal against order of Winding up.
?owers of Liquidatoy
(5) The Whole of the assets of the society shall on the appointment of Liqiiidator under this section vest in such Liquidator, and notwithstanding anything contained in any law for the time being in force, if any immovable property is held by a Liquidator on behalf of the Society, the title over the land shall be completed as soon as the mutation of the name of his office is effected, and no Court shell question the title on the ground of dispossession, want of possession or physical delivery of possession.
(6) In the event of the interim order being vacated, the person appointed as Liquidator shall hand over the property, effects and actionable claims and books. records and ether documents of the society to the officers who had delivered the same to him. The acts done, and the proceedings shall, after the interim order has been cancelled under the preceding section, be continued by the officers of the society.