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WorksheetsWinding Up and Dissolution Quiz
Total questions: 20
Worksheet time: 10mins
Under which section can the Registrar stop the functions of a co-operative society?
Section 65
Section 66
Section 71
Section 74
A society may be wound up if its membership falls below:
50
30
25
20
Within how many months must a newly registered society start its functions?
3 months
6 months
12 months
18 months
Before making an order of winding up, the Registrar must consult:
The State Government
The Financing Bank and Circle Co-operative Union
The Reserve Bank of India
The Registrar of Companies
An order for winding up may be cancelled if a revitalisation proposal is submitted within:
6 months
1 year
2 years
3 years
Who appoints the liquidator for a co-operative society?
Government
Registrar of Co-operative Societies
Financing Bank
Members of the society
The appointment of a liquidator must be published in:
Society's Notice Board
Local Newspaper
Official Gazette
Registrar's Office
What is the primary duty of a liquidator?
To expand the business
To realise money due and settle liabilities
To appoint new directors
To amend bye-laws
Whose control is the liquidator subject to?
Members of the society
Registrar of Co-operative Societies
State Government
High Court
The liquidator can file a suit to:
Increase membership
Recover money from a debtor
Register new societies
Amend the Co-operative Act
The liquidator decides the:
Rate of contribution from members
Bye-law amendments
Election procedure
Audit report
Claims against the society must be submitted within how many months from the notice?
1 month
2 months
3 months
6 months
All money recovered by the liquidator shall be deposited in:
Registrar's Office
RBI
Post Office Savings Bank / Approved Bank
Government Treasury
The liquidator must submit reports to the Registrar:
Monthly
Quarterly
Half-yearly
Yearly
The liquidator must complete winding up within:
1 year
2 years
3 years
5 years
If winding up is not completed within 3 years, the liquidator must:
Stop the process
Apply for extension to Registrar
Start liquidation again
Report to Members only
The maximum period for extension of winding up process is:
6 months
1 year
2 years
3 years
If surplus funds remain after meeting liabilities, they may be used to:
Distribute as dividend
Pay partly settled liabilities
Buy new property
Return to Registrar
If a liability remains undischarged due to no claimants, the amount is deposited in:
Reserve Bank of India
Financing Bank
Registrar's Fund
Society's Cash Account
If no claim is made within 3 years, the undischarged liability amount is transferred to:
Society Development Fund
Bad Debt Reserve Fund
Registrar's Account
Government Revenue
