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ANUBHA RAWAT CHOUDHARY
Tundi Primary Agricultural Credit Cooperative Society (PACS) – Appellant
Versus
State of Jharkhand, Represented through its Secretary, Department of Cooperative – Respondent
JUDGMENT :
Anubha Rawat Choudhary, J.
Learned counsels for the parties are present.
2. This writ petition has been filed for the following reliefs :
(ii) For quashing of Letters as contained in Reference No. 543/13 dated 04.12.2013 [Annexure-4] whereby and where under in compliance to the Order of the Respondent No.2 and the consequent Order of the Administrator of the Dhanbad Central Cooperative Bank Limited [Respondent No. 3], the Managing Director of The Dhanbad Central Cooperative Bank Limited [Respondent No.4] has convened a meeting of the share-holders of the DCC Bank, Dhanbad on 20.12.2013 to consider the matter of compulsory amalgamation of the Dhanbad Central Cooperative Bank with the Jharkhand State Cooperative Bank under Sec
The compulsory amalgamation of cooperative banks must comply with the provisions of the Jharkhand Cooperative Societies Act, 1935, including obtaining prior approval from the Reserve Bank of India, a....
The Registrar's jurisdiction to approve bank amalgamations remains valid despite the amendment of Section 44A of the Banking Regulation Act, 1949, with amendments not affecting ongoing merger request....
Point of Law : Section 74A of 1969 Act was incorporated to ensure that benefits of DICGC Act, 1969 were extended to Co-operative Banks as well.
Merger of cooperative banks does not violate statutory regulations when properly sanctioned; the petitioner acted out of self-interest and lacking standing.
An appeal against the order of amalgamation of co-operative banks approved by the RBI is barred under Section 79 of the Chhattisgarh Co-operative Societies Act.
Cooperative banks operate under state law for incorporation and management, while banking activities are regulated by central law, establishing a division of legislative competence.
A cooperative society must demonstrate its multi-state operations to be registered under the Multi-State Cooperative Societies Act, 2002, as per legal requirements and Reserve Bank directives.
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