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Section 72: Winding up of Societies

The Odisha Co-Operative Societies Act, 1962State Act of Odisha · Act 2 of 1963

(1) If the Registrar, after an inquiry has been held under Section 65 or an inspection has been made under Section 64 or upon perusal of the audit report or on receipt of 1[a resolution passed] by not less than three-fourths of the members of a Society, is of opinion that the Society ought to be wound up, he may issue an order directing it to be wound up.

(2) The Registrar may of his own motion, make an order directing the winding up of a Society - 2[(a) its membership has fallen below the minimum number required for its registration; or]

(b) where the Society has not commenced working within a period of eighteen months from the date of its registration or has ceased to work.

3[(2-a) Except on the basis of a resolution specified in Sub-Section (1) no order directing the winding up of a Society under this section shall be passed without giving an opportunity to the Society to state objection, if any to the proposed winding up, through its Chief Executive, within thirty days from the date of issue of a notice by the Registrar in that regard.]

(3) The Registrar may cancel an order for the winding up of Society, at any time, in any case where, in his opinion the Society should continue to exist.

Where this provision sits

ActThe Odisha Co-Operative Societies Act, 1962
Section72
Marginal noteWinding up of Societies
JurisdictionState of Odisha
StatusIn force as published by the source

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