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IN THE HIGH COURT OF KERALA AT ERNAKULAM
N. NAGARESH, J
Poothrika Service Co-operative Bank Ltd. – Appellant
Versus
State Of Kerala – Respondent
JUDGMENT :
N.NAGARESH, J.
The petitioner, a Co-operative Society, challenges the refusal of the 2nd respondent to permit construction of a building for accommodating a Branch of the Bank on the ground that while purchasing the land the then Management has not taken permission for purchase.
2. The petitioner states that the Society, by a resolution passed on 09.12.2013, decided to purchase an extent of 3.64 Ares of land situated adjacent to the building in which the Branch was functioning, for a price of Rs.27.9 lakhs. The petitioner would urge that the market value of the property was much higher. Kolencheri Housing Society had purchased a nearby property at a higher price and the said purchase was approved by the Department.
3. The Society did not seek prior approval for purchase of land since the bye-laws of the Society contemplated purchase of land as one of its objects. The petitioner-Society is now owner of 3.64 Ares of land for the last about 10 years.
4. The Society submitted application for approval of purchase as per Ext.P4 resolution dated 27.10.2016. The 3rd respondent, as per Ext.P3, required the petitioner to produce documents relating to the valuation and transaction detai
Prior approval is required for land purchases by Co-operative Societies, but existing ownership and improved financial status may justify reconsideration for construction.
Interpretation of Rule 54: The judgment establishes that if a society's bye-laws permit investments in land or construction, prior sanction from the Registrar may not be necessary under Rule 54 of th....
A society may purchase property without prior sanction if permitted by its bye-laws.
Court directed the consideration of a resolution under cooperative society rules for property sale.
Co-operative society cannot refuse membership under Section 23 of MCS Act on grounds of non-residential use, lease prior consent breach, or unauthorised construction unless expressly disqualifying un....
The Joint Registrar cannot require a No Objection Certificate for confirming a sale under the Kerala Co-operative Societies Act, as it is not mandated by law.
Auction sale of mortgaged asset – After confirmation of sale, Registrar is duty bound to grant Certificate of Sale bearing his seal and signature.
The judgment emphasizes the importance of natural justice and interprets the applicability of section 71 of the Gujarat Cooperative Societies Act, highlighting the necessity of previous sanction of t....
Even though there is no period of limitation for filing petitions under Articles 32 and 226 of the Constitution, the petitioner should approach the Court without loss of time and if there is delay, t....
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