https://www.taxtmi.com/caselaws?id=172645 Co-operative banks under the Maharashtra, Andhra Pradesh and Multi-State Co-operative Societies laws are not included within "banking company" in Section 5(c) of the Banking Regulation Act, as Section 56 uses distinct definitions for co-operative banks and the legal fiction there cannot be extended into other statutes. On that basis, the Recovery of Debts Due to Banks and Financial Institutions Act does not govern recovery of dues by way of member-recovery under co-operative statutes. Entry 32 of List II continues to support State legislation on co-operative societies, and incidental banking activity does not transfer the subject to Entry 45 of List I. State recovery provisions for co-operative banks therefore remain within legislative competence. en-us Wed, 04 Apr 2007 00:00:00 +0530 Mon, 23 Nov 2015 10:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172645 Co-operative banks under the Maharashtra, Andhra Pradesh and Multi-State Co-operative Societies laws are not included within "banking company" in Section 5(c) of the Banking Regulation Act, as Section 56 uses distinct definitions for co-operative banks and the legal fiction there cannot be extended into other statutes. On that basis, the Recovery of Debts Due to Banks and Financial Institutions Act does not govern recovery of dues by way of member-recovery under co-operative statutes. Entry 32 of List II continues to support State legislation on co-operative societies, and incidental banking activity does not transfer the subject to Entry 45 of List I. State recovery provisions for co-operative banks therefore remain within legislative competence. Case-Laws Indian Laws Wed, 04 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172645