Multi-State Co-Operative Societies Act, 2002

Section - 86 - Winding up of multi-State co-operative societies

CHAPTER X

WINDING UP OF MULTI-STATE CO-OPERATIVE SOCIETY

Winding up of multi-State co-operative societies.

86. (1) If the Central Registrar, after audit has been conducted under section 70 or special audit has been conducted under section 77 or an inquiry has been held under section 78 or an inspection has been made under section 79 [or section 108], is of opinion that the society ought to be wound up, he may, after giving the society a reasonable opportunity of making its representations by order, direct it to be wound up.

(2) The Central Registrar may, of his own motion and after giving the multi-State co-operative society a reasonable opportunity of making its representation, make an order directing the winding up of the multi-State co-operative society,-

[(a)-where the number of members or the number of societies or the number of persons, as the case may be, has at any time reduced below the number of members or societies or persons as specified in sub-section (2) of section 6:
-Provided that the multi-State co-operative society shall be given six months' time to restore the number of members or societies or persons to the requisite number;]
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