WINDING UP AND DISSOLUTION OF CO-OPERATIVE SOCIETIES

(a) The Registrar, before passing an order directing a co-operative society to be wound up, shall except when an application has been made by not less than three forth of the members of the society for its being wound up, issue a notice by registered post or by personal delivery under acknowledgment to the Chairman or Secretary of the Society to show cause within the time specified in the notice, as to why the society may not be wound up under Section 72. (b) The society shall consider the notice mentioned in Sub-rule (a) and shall send reply to the Registrar within the time specified in the notice. (c) If the society fails to send the reply within the time specified in the notice or the reply received is unsatisfactory, the Registrar may pass order directing the society to be wound up.