part III

Industries Department

Proceedings

Of the Registrar of Industrial Co-operative Societies &

General Manager, District Industries Centre,

Palakkad

No. VI-1483/2008.

14th March 2012.

Ref:— 1. This

Office

order

of

even

No. dated 3-5-2008.

2. Section 65 enquiry report of SCI (HL),

Palakkad dated 9-3-2012.

3. Section & 71(1) & 72(1) of KCS Act-

1969.

4. Letter No. 4/2012/Admn. dated 2-1-2012

of Administrator of the society.

Palakkad District Gold Workers Industrial Co-

operative society Ltd. No. C IND(P)133, Palakkad was

registered on 4-12-1991 and started functioning from

23-12-1991. There were 132 members in the roll of the

society. It functioned in well manner till 2006, and during

2007-08 some hints of misappropriation were brought

to the notice by a special audit report of Co-operative

Department. The society became defunct in February

2008 after the mysterious death of its secretary, Sri N.

Balakrishnan. Also nearly 40 Arbitration Cases were

filed by various individuals against the society for the

realization of their deposits made in the society.

The society is in administrator rule from 20-7-2009.

On the basis of the special report of SCI (Ind), Palakkad

Circle, Section 65 of Kerala Co-operative Societies Act

1969 was ordered vide paper read as 1st, to explore the

financial irregularities happened in the society. As paper

2nd read above, SCI (HQ) Handloom, Palakkad has

submitted the Section 65 enquiry report.

The report reveals that there happened many financial

misappropriations which caused to huge liability and

there is no scope to revive the society. He has strongly

recommended to appoint a Liquidator to wind up the

affairs of the society for the purpose of settling the various

claimants in the form of ARCs, EPs, Sales Tax arrear, Rent

KERALA GAZETTE

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kerala gazette

[Part III

arrear etc.

The Administrator of the society has also expressed

his no objection in winding up of the society as per paper

read as 4th, on the basis of the Special General Body

meeting held in DIC Conference Hall on 25-9-2009. Also

the matter regarding the winding up of the affairs of the

society has been intimated to the PDC Bank and Circle

Co-operative Union, Palakkad. Hence the Order.

Order

In the circumstances stated above, and in exercise

of powers conferred upon me, I hereby order to wind

up the affairs of the Palakkad District Gold Workers

Industrial Co-operative Society Ltd. No. C IND(P)133,

Palakkad under Section 71(1) of Kerala Co-operative

Societies Act-1969. Also it is ordered that Junior

Co-operative Inspector (Ind), Taluk Industries Office,

Palakkad is appointed as the Liquidator of the society

under Section 72 of KCS Act-1969.

The liquidator will take charge of the assets, registers

and other documents of the society from its Administrator

and report the same to the undersigned forthwith. She shall

discharge the process of Liquidation within 3 years from

the date of taking charge as Liquidator by strictly adhering

to the powers of the Liquidator as laid down in Section 73

of KCS Act 1969.

(Sd.)

Registrar of Industrial

District Industries Centre,

Co-operative Society &