https://www.taxtmi.com/caselaws?id=193449 Section 63 of the Madhya Bharat Co-operative Societies Act, 1954 applies only to persons who, in relation to the society, have misapplied its money or property, retained it, or committed misfeasance or breach of trust. Acts done before the society came into existence, or before the bank's property vested in it, are not acts in relation to the society. Mere registration of the society did not itself create a trust or vest the bank's property; that interest arose only on transfer. Liability therefore could not be imposed for dealings with the private bank before transfer, and the impugned orders were without jurisdiction to that extent. en-us Mon, 08 Feb 1971 00:00:00 +0530 Sat, 29 Jul 2017 16:44:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193449 Section 63 of the Madhya Bharat Co-operative Societies Act, 1954 applies only to persons who, in relation to the society, have misapplied its money or property, retained it, or committed misfeasance or breach of trust. Acts done before the society came into existence, or before the bank's property vested in it, are not acts in relation to the society. Mere registration of the society did not itself create a trust or vest the bank's property; that interest arose only on transfer. Liability therefore could not be imposed for dealings with the private bank before transfer, and the impugned orders were without jurisdiction to that extent. Case-Laws Indian Laws Mon, 08 Feb 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193449