Registrar's powers to recover certain sums by attachment and sale of property

Corporate2024155 sections12 chapters

Chapter XII INSURED CO-OPERATIVE BANK

Statutory text

(1) The Registrar or any subordinate officer empowered by him in this behalf may, subject to such rules as may be made by the Administrator but without prejudice to any other mode of recovery provided by or under this Regulation, recover—
- (a) any amount due under a decree or order of a civil court, obtained by a society;
- (b) any amount due under a decision, award or order of the Registrar, his nominee or the board of nominees or Liquidator or Tribunal;
- (c) any sum awarded by way of costs under this Regulation;
- (d) any sum ordered to be paid under this Regulation as a contribution to the assets of the society, together with interest, if any, due on such amount or sum and the costs of recovering the same, by the attachment and sale or by sale without attachment of the property of the person against whom such decree, decision, award or order has been obtained or passed.
(2) The Registrar or the officer empowered by him shall be deemed when exercising the powers under sub-section (1) or when passing any order on any application made to him for such recovery, to be a civil court for the purposes of article 182 in the First Schedule to the Limitation Act, 1963.

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