Court : Mumbai
Reported in : 2008(4)BomCR719
..... msc bank is brought within the definition of bank as defined under section 2(1)(c), by virtue of a notification of the central government, in exercise of the powers conferred by section 2(1)(c)(v) of the securatization act; with effect from 28-01-2003, that will not exclude a borrower who has borrowed the loans or received financial assistance either before commencing into force of securatization act on 21-06-2002 or those who have received financial assistance before 28-01-2003 from the cooperative societies which are brought within the definition of 'bank' with ..... of 2007 with the prayer clauses in the main writ petition, it can be seen that, there has been sea-change in the policy and approach of the msc bank, probably because, recovery of dues is the paramount ..... say that, by taking into consideration expected sugar-cane crushing, the production of sugar, income from sale of sugar (90% free and 10% levy), liability to pay interest towards loans of the banks, excise duty, advocate shri salunke has tried to demonstrate that the sick sugar factory, even if run on the basis of lease, or by the liquidator, it is not likely to run into profits,but likely to incur loss of more than rs. ..... submissions, advocate shri salunke has annexed, extracts from the annual reports for the years 1993-94 to 1999-2000 and pointed out that during these years, total losses accrued are to the tune of rs. ..... , in case of other factories running into losses in the year, none of those ran properly without packages .....
Tag this Judgment!Court : Mumbai Aurangabad
..... as per the bye-laws, there were so many other similar directors like nominee of rural electrification corporation, a nominee of the state government, who shall not be below the rank of registrar of the cooperative societies etc. 6. ..... applicant had contended that the suit is barred by section 91 of the maharashtra co-operative societies act, 1960 (hereinafter referred to as 'the act' for short) and the dispute mentioned in the plaint is covered by section 91 of the act. ..... from this perspective it was held that it was not every dispute between the society and a member that would fall within the purview of the provisions of section 54 of the bombay co-operative societies act, 1925. ..... the learned senior counsel then took this court through the license given by the state government to the society under the indian electricity act, 1910. 5. ..... the trial court has held that the plaintiff is not member of society and the electricity was supplied to the society, which was consumer of the plaintiff and it is simple suit for recovery of money in respect of the said supply. 4. ..... in the second case cited supra when a suit was filed by the trust against the society in respect of some amount due and it was some loan given by the trust, this court held that this transaction was not touching the business of the society and so, the dispute does not fall under section 91 of the act. 7. .....
Tag this Judgment!Court : Mumbai Nagpur
..... petitioners in both the matters are creditors, and the cooperative society from whom they have borrowed loan, have instituted proceedings under section 101 of the maharashtra cooperative societies act, 1960 (hereinafter referred to as "the 1960 act" for short). ..... the concerned society has then to move the cooperative court under section 91 for said recovery. ..... 5 and 6 in writ petition no.92/2009 has contended that section 101 is a provision for expeditious recovery only of arrears and hence, a limited enquiry as envisaged therein and as is clear from the provisions of chapter viii-a of the 1961 rules, is only open, there is no question of any opportunity of cross examination in that enquiry. ..... both the provisions begin with non obstante clause and do not militate with each other, but proceed to advance the legislative intention of enabling a society to have a speedy remedy for recovery of arrears due as land revenue. ..... it can not be even urged that legislature made that certificate final while denying the right to dispute the facts cardinal for its determination and intended to fasten the recovery as liability upon a person having bonafide and valid defence. ..... the language itself shows that the recovery contemplated is of arrears due to society. ..... " it is added on 18.05.2007 when chapter viii-a dealing with grant of certificate for recovery under section 101 came to be added to 1961 rules. .....
Tag this Judgment!Court : Mumbai Nagpur
..... petitioners in both the matters are creditors, and the cooperative society from whom they have borrowed loan, have instituted proceedings under section 101 of the maharashtra cooperative societies act, 1960 (hereinafter referred to as "the 1960 act" for short). ..... the concerned society has then to move the cooperative court under section 91 for said recovery. ..... 5 and 6 in writ petition no.92/2009 has contended that section 101 is a provision for expeditious recovery only of arrears and hence, a limited enquiry as envisaged therein and as is clear from the provisions of chapter viii-a of the 1961 rules, is only open, there is no question of any opportunity of cross examination in that enquiry. ..... both the provisions begin with non obstante clause and do not militate with each other, but proceed to advance the legislative intention of enabling a society to have a speedy remedy for recovery of arrears due as land revenue. ..... it can not be even urged that legislature made that certificate final while denying the right to dispute the facts cardinal for its determination and intended to fasten the recovery as liability upon a person having bonafide and valid defence. ..... the language itself shows that the recovery contemplated is of arrears due to society. ..... " it is added on 18.05.2007 when chapter viii-a dealing with grant of certificate for recovery under section 101 came to be added to 1961 rules. .....
Tag this Judgment!Court : Mumbai
Reported in : AIR2003Bom502; 2004(1)ALLMR266; 2004(3)BomCR889; 2004(1)MhLj232
..... state of maharashtra, through the secretary, cooperative and agricultural department, mantralaya, bombay 1989 ctj 27 wherein the ratio was laid down that sub-section (1) of section 102 of the act demands that the registrar must form an opinion that the society ought to be wound up. ..... shri gawai also submitted that the registrar had acted on the material before him to pass the interim order of winding up of the societies to prevent further loss or damage to the societies.13. ..... in the present case, the statement showing demand, recovery and remittances for the last three years (july 1999-june 2000, july 2000-june 2001 and july 2001 - june 2002) would show that the remittances to the nabard by the banks which were put under the categories b & c were very much poor and this has necessitated the winding up of those banks in the larger interest of the farmers, asserts shri gawai.12. ..... it was noticed that since last couple of years, recovery of the bank became unsatisfactory and the bank had gone into huge loss day by day. ..... it was the sole duty of the banks to remit the loans to the nabards through recoveries effected. ..... it was the sole duty of the bank to remit the nabard's loan through recoveries effected by it. .....
Tag this Judgment!Court : Mumbai
..... s case was in view of attempt of a bank to fall within the definition of the banking company , though the status of these cooperative banks is under clause (cci), a multi-state co-operative bank as contemplated by clause (cciii-a) and a primary co-operative bank as contemplated by clause (ccv), all clauses of section 5 of the banking regulation act, 1949, as amended by section 56 of the said b.r. ..... thereby a bank , as contemplated by chapter-v of the banking regulation act, 1949, comprehends and covers the bank which is a co-operative society, as governed by the said chapter.12. ..... being a co-operative society which has banking activity exclusively, qua its business of banking, it comes within the purview of legislative competence of the parliament, as the state legislature is devoid of legislative competence as regards banking business as done even by a co-operative society.13. ..... act.hon'ble apex court held that the co-operative bank did not fall in the category of the banking company within the scheme of the banking regulation act, 1949, and the secu. r.f.a & e.s.i. ..... this court has to, and has kept in view the law and a fact that the management and organization of a co-operative society, even a co-operative bank, is a matter within exclusive legislative and executive power of the state, governed by entry no. ..... as regards lending and recovery, there cannot be any distinction between said activity when done by a banking company and by a co-operative bank. ..... : air 2007 sc 1584.4. .....
Tag this Judgment!Court : Mumbai
Reported in : 2006(4)ALLMR1; 2006(3)BomCR867
..... he will have to pay interest at the rate of 3% ;* the concession would be applicable to crop loans outstanding in the names of farmers for loans taken from cooperative as well as nationalized banks.21.2 arrangements have been made for the issuance of fresh crop loans which are as follows :* once the outstanding loans are rescheduled, farmers would become ..... the cost of cultivation.the average gap in the minimum support price and the cost of cultivation per crop has been worked out over a period of eight years, for 1996-2004 and the difference which is given in a minus percentage is as follows :paddy: -38%; bajra: -48%; groundnut: -32%;tur: -40%; cotton: -38%; sunflower: -50%; mug: -50%; udid:-47%; soybean: -37%; sugarcane: -12%; wheat: -47%; gram: -47%; safflower: -39%.thus, according to the report, all crops are being cultivated at a loss to cultivators, which varies between 38% at the minimum and 50% at the ..... the loan has been obtained by any member of the family of the deceased farmer from a nationalized bank, a co-operative bank, co-operative credit society ..... the state government has further submitted that initially assistance was being rendered in only those cases which satisfied a triple test namely; (i) the deceased farmer should be an agriculturist; (ii) the deceased farmer should have been indebted to a financial institution that had disbursed a loan to him; and (iii) there should have been pressure for the recovery or repayment of a loan at the behest of the ..... the ceiling act .....
Tag this Judgment!Court : Mumbai
Reported in : 2008(1)ALLMR318; 2008(1)BomCR1; (2007)109BOMLR2493; 2007(6)MhLj851
..... the membership issue is also decided by sra to whom powers under the maharashtra cooperative societies act, 1960 are delegated.54 ..... sub-section (2) thereof states that if the photo-pass issued under sub-section (1) is lost or destroyed or defaced, the holder of the photo-pass shall forthwith intimate the loss, destruction or defacement of the photo-pass to the concerned authority which has granted the photo-pass and shall apply, in writing, to the said authority with the prescribed fee for issue of a duplicate. ..... 1, if any, are stated to be based upon a contract for which he was obliged to avail of the alternative efficacious remedy of filing a suit either for the recovery of the money or for rendition of accounts. ..... 1326 of 2007 more or less adopted the contentions of the learned advocate general and additionally submitted that there are self-imposed restrictions of judicial review which are devised by the courts. ..... reliance was placed upon a recent decision of the supreme court reported in : (2007)iillj113sc indian airlines ltd. v. ..... 1326 of 2007, the reliefs claimed are that, the permission granted on 11th february 2005 and 30th april 2005 and sanction of building plans in pursuance thereof be declared as illegal, invalid, ultravires of the powers of respondent nos ..... 1326 of 2007 on 27th july, 2007.2. ..... brought to our notice it is observed thus : : 2007(1)bomcr403 8. mr. ..... 74 of 2007 contends that writ jurisdiction is maintainable in all cases except where dispute is between two developers or .....
Tag this Judgment!Court : Mumbai
Reported in : 2009(3)BomCR424
..... there is no dispute about the fact that both the appellants are registered cooperative societies under the provisions of the maharashtra co-operative societies act, 1960. ..... cumulative consideration of the relevant aspects would make it manifest that the appellants work conjointly and are members of a league formulated under the provisions of the maharashtra cooperative societies act, 1960. ..... 90 of the maharashtra cooperative societies act, 1960 lays down the power to levy supervision charges on constitution of a federal authority as recognized under the act. ..... is a registered cooperative society under the maharashtra co-operative societies act, 1960 and the appellant no. ..... is marketing federation duly registered under the maharashtra cooperative societies act, 1960. ..... contribution, the appellants filed an application before the industrial tribunal seeking quashing of the recovery order and the demand notice issued by the respondents.5. ..... the recovery orders/certificate challenged by the appellants is quashed and the application filed by them be deemed as allowed ..... , therefore, supported the order issued in respect of recovery of the e.s.i. ..... being aggrieved by the said order and the communication pertaining to recovery of e.s.i. ..... contribution with effect from 1st february, 1996 in accordance with the government notification dated 28th april, 1992 and, therefore, urged for withdrawal of the notice of recovery. ..... 2 - the recovery officer, by order dated 6th august, 1993, called upon the appellant no. .....
Tag this Judgment!Court : Mumbai
..... however, if the liquidators come to the conclusion that there is a possibility of revival of the factory, they can do so as per section 105(0) of the maharashtra cooperative societies act, 1960. ..... 7 to 19 without holding the election and without calling the annual general meeting of the society.30.9 it reveals that there were allegations of corruption in purchase and installation of the machinery, misappropriation in the sale of sugar molasses, gunny bags, transportation.30.10 it was alleged that 600 employees were not paid their wages since march 1996, provident fund amount deducted from the wages were not deposited with the provident fund commissioner and the society had incurred huge losses and was heavily indebted.30.11. ..... although the prayer made in the four writ applications were apparently different, it became evident that the core issue in each of the matters centered around recovery of the amount advanced to the appellants by the bank. ..... air 2007 sc (supp) 540.point:it has been held that writ would be maintainable against a co-operative society if it is established that a mandatory statutory provision of a statute has been violated. ..... [order dated 11th july, 2007 passed in writ petition no. ..... : air 2007 bom. ..... : 2007 (2) bom.c.r. .....
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