section 111
Transfer of property which cannot be sold
The Dadra and Nagar Haveli and Daman and Diu Co-Operative Societies Regulation, 2024Corporate2024155 sections12 chapters
Chapter IX PROCEDURE FOR DECIDING DISPUTES
Statutory text
- (1) When in execution of an order sought to be executed under section 109 any property cannot be sold for want of buyers, if such property is in occupancy of the defaulter, or of some person in his behalf, or of some person claiming a title created by the defaulter, subsequent to the issue of the certificate of the Registrar, Liquidator or the Assistant Registrar, under clause (a) or clause (b) of section 109, the court or the Collector or the Registrar, as the case may be, may direct that the said property or any portion thereof shall be transferred to the society which has applied for the execution of the said order in such manner as may be prescribed.
- (2) Where property is transferred to the society under sub-section (1), or is sold under the provisions of section 109, the court, the Collector or the Registrar, as the case may be, may, in accordance with the rules, place the society or the purchaser, in possession of the property transferred or sold.
- (3) Subject to the rules made in this behalf, and to any rights, encumbrances, charges or equities lawfully subsisting in favour of any person, such property or portion thereof shall be held under sub-section (1) by the said society on such terms and conditions as may be agreed upon between the court, the Collector or the Registrar, as the case may be, and the said society subject to the general or special orders of the Administrator, the Collector or the Registrar may delegate to an officer, not below the rank of an Assistant or Deputy Collector or an Assistant Registrar, powers exercisable by the Collector or the Registrar under this section.
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