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suresh chandra mittal   10 October 2020

Administrator v/s liquidator

DIFFERENCE BETWEEN LIQUIDATOR AND ADMINISTRATOR IN RELATION TO AFFAIRS OF COOPERATIVE SOCIETY


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 4 Replies

G.L.N. Prasad (Retired employee.)     11 October 2020

In general, the meaning of ADMINISTRATOR who supervises and continues the functioning of any organization as a temporary measure, under exigencies when regular arrangement can not be made due to death, completion of tenure, elections not held, charges against office bearers etc.

The liquidator's duty is to take care of the assets and prepare a list of assets and liabilities with such realizable value so that a report can be prepared for settling some portion of assets to creditors if such debts are more than assets. of society.

P. Venu (Advocate)     11 October 2020

What are the facts? What is the context?

Dr J C Vashista (Advocate)     11 October 2020

Originally posted by : suresh chandra mittal
DIFFERENCE BETWEEN LIQUIDATOR AND ADMINISTRATOR IN RELATION TO AFFAIRS OF COOPERATIVE SOCIETY

No facts have been posted for consideration and obligation.

What  do you intend by giving examination ?

suresh chandra mittal   12 October 2020

21 LAC INVESTORS , 8000 CROR CLAIM AMOUNT SCAM  , MULTISTATE COOPERAVE SOCIETY UNDER LIQUIDATION AND WOUND UP , PROMOTORS ARE IN JAIL   WRIT PETITION  PENDING IN RAJASTHAN   HIGH COURT 

 

A multi state cooperative society is windup   for violation of rules/ provisions  of multistate cooperative society act 2020  and offence under IPC and diversion/ transfer  of   funds/ deposit   received from  members, to   feck   companies  of    which  own family members   were   directors/ promoters.    and liquidator   is appointed by   order of  central registrar  cooperatives  to settle the claims of depositors by dispose of property of the society . properties are now  not with the liquidator   and   attached   by various agencies  SFIO, ED , INCOME TAX DEPT and depositors   have filed   case in high court praying removal of   liquidator  and appointment of   administrator  and payment of their money . promoters  are sent to jail   by  govt. in FIR case filed by SOG . there is no specific   provision of  appointment of  administrator in MSCSA 2020

My question is

1. if supposing  liquidator is removed and  administrator is appointed by the orders of the high court , will it serve the purpose of getting the deposited amount of   depositors or the administrator will follow the  same procedure as liquidator to dispose of the properties of the society .  how   administrator   will be better than liquidator   in this case to give better relief .

2. what is the best  way   to get the  relief and   how the depositors / investors ( 21 lac) can get their hard earn money from society ?

3. can court order for regulating the society ? 

NEED HELP , CRAVES FOR JUSTICE   SIR IT WOULD BE A GREAT HELP IF YOPU CAN GUIDE US 

SC MITTAL    9079980761 

     


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