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Section 82: Interest on amounts due from a society under liquidation

The Rajasthan Co-operative Societies Rules, 2003State Rules of Rajasthan · 2002

The creditor of a society which is being wound up, may apply to the liquidator, for payment of interest on any debt due from the society upto the date of the Registrar's order for winding up. The rate at which interest shall be paid, shall be in the case of the Rajasthan State Cooperative Bank or a Financing Bank permitted by the Registrar to finance societies, the contract rate and in any other case the rate which may be fixed by the Registrar which shall not exceed the contract rate:

1 Re-numbered by G.S.R. 53 dated 10.7.2017, published in Raj. Gazette E.O. part 4(x)(I) dated

10.7.2017, come into force at once.

121

Provided that if any surplus assets remain after all the liabilities including liabilities on shares, have been paid off, further interest on such debts at a rate to be fixed by the Registrar but not exceeding the contract rate may be allowed to the creditors from the date mentioned above up to the date of the repayment of the principal.

CHAPTER XI Land Development Banks

Where this provision sits

ActThe Rajasthan Co-operative Societies Rules, 2003
Section82
Marginal noteInterest on amounts due from a society under liquidation
JurisdictionState of Rajasthan
StatusIn force as published by the source

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