Supersession of co operative board limited by time and grounds; administrator must conduct elections and restore management. Supersession or suspension of a co operative society board is limited to a specified period and permitted only on grounds such as persistent default, negligence, prejudicial acts, stalemate, or failure to conduct elections; boards with no government shareholding, loan, assistance or guarantee cannot be superseded. Banking co operatives are subject to the Banking Regulation Act, with a longer period treated as one year for certain non multi State banking societies. An administrator appointed on supersession must conduct elections within the period and transfer management to the elected board, and the State Legislature may prescribe the administrator's service conditions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Supersession of co operative board limited by time and grounds; administrator must conduct elections and restore management.
Supersession or suspension of a co operative society board is limited to a specified period and permitted only on grounds such as persistent default, negligence, prejudicial acts, stalemate, or failure to conduct elections; boards with no government shareholding, loan, assistance or guarantee cannot be superseded. Banking co operatives are subject to the Banking Regulation Act, with a longer period treated as one year for certain non multi State banking societies. An administrator appointed on supersession must conduct elections within the period and transfer management to the elected board, and the State Legislature may prescribe the administrator's service conditions.
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