K.SREEDHAR RAO, ANIL R.DAVE
KHERALU NAGARIK SAHAKARI BANK LIMITED – Appellant
Versus
STATE – Respondent
( 1 ) THE common question raised in all these Special Civil applications is relating to Constitutional validity of S. 71 of the Co-operative societies Act, Gujarat Act 10 of 1962 (hereinafter referred to as "the Act" ). Contention is that S. 71 cannot in any manner control the affairs of a Society, engaged in banking business. Such a Society, after the amendment brought about by the Banking Laws (Application to Co-operative Societies) Act. Central Act 23 of 1965, cannot have any relevance to such activities. On account of the said Central legislation, the provisions contained in the Act becomes ultra vires the powers of the State Legislature by virtue of provisions contained in Art. 245 of the Constitution.
( 2 ) LEARNED Counsels appearing in the case, while arguing the entire issue in detail, agreed to have all these petitions disposed of by a common judgment. They further prayed that this Court need not go into various questions of fact raised in these matters, for, they are to be challenged before the Authorities, who issued notices, requiring the Bank and its officers to show cause why action contemplated by S. 147 of the Act are not to be initiated. On this ba
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