Section 72. Winding up of co-operative societies

(1) If the Registrar, after an enquiry has been held under section 65, or an inspection has been made under section 66 or on receipt of an application made by not less than three-fourth of the members of a co-operative society, is of the opinion that the society ought to be wound up, he may pass an order directing it to be wound up. (2) The Registrar may of his own motion and after giving such notice as may be prescribed pass an order directing the winding up of a co-operative society- (a) where the registration of the co-operative society was obtained by fraud or mistake ; or (b) where the member of ordinary members has been reduced to less than such minimum as provided in section 6 for the registration of such society ; or (c) where the co-operative society has not commenced working within a reasonable time or has ceased to function ; or (d) where the co-operative society is no longer fulfilling its objects or complying with the requirements of clause (d) of sub-section (1) of section 7.