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Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Step 1 – Issue Identification & Review
The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.
• Review the issues identified by the AI
• Add, edit, remove, or refine issues as required
Step 2 – Draft Generation
Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.
• Relevant statutory provisions
• Judicial precedents and Supreme Court, High Court and other citations
• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review. 
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The Reserve Bank of India has cancelled the licence of Shri Shivaji Sahakari Bank Ltd, Gadhinglaj, Kolhapur, Maharastra to carry on banking business under Section 22 of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) read with Section 56 of Banking Regulation Act, 1949. The licence has been cancelled vide the Reserve Bank’s order UBD.CO.BSD I/LC No. 09/12.22.249/2013-14, dated June 12, 2014. As such, the bank is precluded forthwith from transacting the business of 'banking' as defined in Section 5(b) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), including acceptance/repayment of deposits.
Ajit Prasad
Assistant General Manager
Banking licence cancellation: bank precluded from transacting banking business and accepting deposits under BR Act. The Reserve Bank of India cancelled the licence of Shri Shivaji Sahakari Bank Ltd under Section 22 of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) read with Section 56 by order dated June 12, 2014, thereby precluding the bank forthwith from transacting the business of banking as defined in Section 5(b), including acceptance and repayment of deposits.Press 'Enter' after typing page number.