law: Multi-State Cooperative Societies Act, 1984 
  Chapter IX: Winding
  
  Up of Multi-State Cooperative Societies 
  77. Winding Up of
  
  Multi-State Cooperative Societies.- 
  1.     
  
    If
  
  the Central Registrar, after an inquiry has been held under section 69 or an
  
  inspection has been made under section 70, or on receipt of an application made
  
  by not less than three fourths of the members of a multi State cooperative
  
  society, is of the opinion that the society ought to be wound up, he may, after
  
  giving the society a reasonable opportunity of making its representations, by order,
  
  direct it to be wound up.
  2.     
  
    The
  
  Central Registrar may, of his own motion and after giving the multi-State
  
  cooperative society a reasonable opportunity of making its representations,
  
  make an order directing the winding up of the multi-State cooperative society -
  a.      where it is a
  
  condition of the registration of the society that the society shall consist of
  
  at least fifty members and the number of members has been reduced to less than
  
  fifty; or
  b.     where the multi-State
  
  cooperative society has not commenced working within a period of six months of
  
  the date of its registration or such extended period as the Central Registrar
  
  may allow in this behalf or has ceased to function in accordance with
  
  cooperative principles.
  1.     
  
  
  2.     
  
  
  3.     
  
    The
  
  Central Registrar may cancel an order for the winding up of a multi-State
  
  cooperative society, at any time, in any case where in his opinion, the society
  
  should continue to exist.
  4.     
  
    A
  
  copy of such order shall be communicated by registered post to the multi-State
  
  cooperative society and to the financial institutions, if any, of which the
  
  society is a member.
  5.     
  
    Notwithstanding
  
  anything contained in this section no cooperative bank shall be wound up except
  
  with the previous sanction in writing of the Reserve Bank.