Winding up powers: Central Registrar may order winding up of multi State co operative societies after audits or inquiries. Central Registrar may direct winding up of a multi State co operative society after audit, special audit, inquiry or inspection if satisfied the society ought to be wound up, after giving a reasonable opportunity for representations; grounds include reduced membership with a restoration period, failure to commence or function by co operative principles, or registration obtained by misrepresentation or fraud. The Registrar must communicate orders by registered post, may cancel orders, and special banking regulation provisions apply to co operative banks. A member resolution by the requisite majority can also effect winding up.
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Provisions expressly mentioned in the judgment/order text.
Winding up powers: Central Registrar may order winding up of multi State co operative societies after audits or inquiries.
Central Registrar may direct winding up of a multi State co operative society after audit, special audit, inquiry or inspection if satisfied the society ought to be wound up, after giving a reasonable opportunity for representations; grounds include reduced membership with a restoration period, failure to commence or function by co operative principles, or registration obtained by misrepresentation or fraud. The Registrar must communicate orders by registered post, may cancel orders, and special banking regulation provisions apply to co operative banks. A member resolution by the requisite majority can also effect winding up.
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