Section 311

Notwithstanding anything contained to the contrary in the bye-laws of a co-operative society or in the regulation framed under Section 121 or Section 122, the service of all the employees of a co-operative society which has been ordered to be would up shall be deemed to have been terminated with effect from the date the order of winding up becomes final. The liquidator may re-employ any employee of the society, on such terms and conditions and for such period as he deems fit, subject to the approval of the Registrar.