SUDHAKARAN Vs. REGISTRAR OF CO-OPERATIVE SOCIETIES

JUDGEMENT

(1.) This case throws up a riveting question as to whether the Registrar/Joint Registrar of Co-operative Societies can direct the Liquidator, appointed to manage and dispose of the assets of a Society ordered to be wound up under the provisions of Section 71 of the Kerala Co-operative Societies Act, to sell its assets in a particular manner, especially at a lower value, to another Society, so as to help and support the latter.

(2.) The petitioners, who claim to be the shareholders of the 4th respondent-Society, has approached this Court impugning Ext. P1 order issued by the Joint Registrar of Co-operative Societies, as per which, the Liquidator appointed for winding up the said Society has been directed to sell one of its properties to the 5th respondent-Society at its notified Fair Value.

(3.) The petitioners say that Ext. P1 order is illegal and incompetent, since the Joint Registrar has no jurisdiction or power to dictate to the Liquidator or to direct him as to how and in what manner the properties of the 4th respondent-Society are to be sold; adding that, in any event of the matter, the direction in Ext. P1 to sell the property at its Fair Value, which is much lower than the market value, is illegal and unlawful.