Liquidator for multi state cooperative society:
(1) Where the Central Registrar has made an order for the winding up of a Multi state cooperative society, the Central Registrar and Registrar of Societies may appoint a liquidator for the purpose and fix his remuneration.
(2) A liquidator shall, on appointment, take into his custody or under his control all the property, effects and actionable claims to which the multi state cooperative society is or appears to be entitled and shall take such steps as he may deem necessary or expedient to prevent loss or deterioration of, or damage to, such property, effects and claims and he may carryon the business of the Multi state cooperative societies so far as may be necessary with the previous approval of the Central Registrar.
(3) Where an appeal is preferred under clause (f) of sub-section (1) of section 99, an order for the winding up of a Multi state cooperative society shall not operate thereafter until the order is confirmed in appeal: Provided that the Liquidator to be public servant shall continue to have custody or control of the property, effects and actionable claims mentioned in sub-section (2) and have authority to take the steps referred to in that sub-section.
(4) Where an order for the winding up of a credit cooperative society is set aside in appeal, the property, effects and actionable claims of the society shall revert in the society. This Website is an effort to bring transparency and efficiency in the day-to-day functioning of the office of the Official Liquidator, Delhi. Citizens at large and creditors of a Company under winding up in particular have right to know about the steps being taken to protect their interest in the said Company and efforts being made to realize assets and distribute the proceeds among the Creditors. The Primary function of the Official liquidator is to administrate the assets of companies under liquidation, sale of the assets and realization of all debts of companies in liquidation for the purpose of distributing the same among the various creditors and other shareholders of the companies and to finally dissolve such companies after the affairs are completely concluded. When a company is put to winding up by an order of the High Court, the Official Liquidator attached to the said High Court takes possession of the company’s assets, books of accounts, etc. and liquidates the company as per the further orders of the High Court in cooperative societies. The procedure of liquidation is prescribed under the Companies (Court) Rules, 1959.