Section 42 - Winding-up - Co-operative Societies Act, 1912

Winding-up. 42. (1) Where the registration of a society is cancelled under section 39 or section 40, the Registrar may appoint a competent person to be liquidator of the society. (2) A liquidator appointed under sub-section (1) shall have power ( a ) to institute and defend suits and other legal proceed ings on behalf of the society by his name of office; ( b ) to determine the contribution to be made by the members and past members of the society respectively to the assets of the society; ( c ) to investigate all claims against the society and, subject to the provisions of this Act, to decide questions of priority arising between claimants; ( d ) to determine by what persons and in what proportions the costs of the liquidation are to be borne; and ( e ) to give such directions in regard to the collection and distribution of the assets of the society, as may appear to him to be necessary for winding-up the affairs of the society. (3) Subject to any rules, a liquidator appointed under this section shall, in so far as such powers are necessary for carry ing out the purposes of this section, have power to summon and enforce the attendance of witnesses and to compel the production of documents by the same means and (so far as may be) in the same manner as is provided in the case of a Civil Court under the Code of Civil Procedure, 1908 (5 of 1908). (4) Where an appeal from any order made by a liquidator under this section is provided for by the rules, it shall lie to the Court of the District Judge. (5) Orders made under this section shall, on application, be enforced as follows : ( a ) when made by a liquidator, by any Civil Court having local jurisdiction in the same manner as a decree of such Court; ( b ) when made by the Court of the District Judge on appeal, in the same manner as a decree of such Court made in any suit pending therein. (6) Save in so far as is hereinbefore expressly provided, no Civil Court shall have any jurisdiction in respect of any matter connected with the dissolution of a registered society under this Act.