Corporate status of multi State co operative societies confers perpetual succession, property and contractual powers, and retroactive recognition of prior transactions. Registration renders a multi State co operative society a body corporate with perpetual succession and a common seal, with power to acquire, hold and dispose of property, enter into contracts, institute and defend suits and other legal proceedings, and to do all things necessary for its objects; transactions entered into in good faith before registration are deemed its transactions after registration for furtherance of those objects.