the binding up of a Co operative
society means
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The binding up of a Cooperative society means liquidation.
- In finance and economics, liquidation is the process of closing a firm and allocating its assets to claimants.
- It is a common occurrence when a firm is insolvent, meaning it is unable to meet its commitments when they are due.
- As firm operations finish, the rem1aining assets are used to pay creditors and shareholders, based on the priority of their claims.
- General partners are vulnerable to liquidation.
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