https://www.taxtmi.com/caselaws?id=390558 Banking regulator directions restricting withdrawals from a co-operative bank were upheld because they were founded on statutory satisfaction based on material showing financial irregularities, suppressed exposures, manipulated accounts and acute liquidity stress. In the absence of convincing material proving arbitrariness, mala fides or illegality, writ interference was not warranted. A provision under the Multi-State Co-operative Societies Act, 2002 for financial aid was held to be enabling only, so no writ could compel the Central or State Governments to fund the bank. The petitions were dismissed. en-us Thu, 05 Dec 2019 00:00:00 +0530 Sat, 04 Jan 2020 18:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390558 Banking regulator directions restricting withdrawals from a co-operative bank were upheld because they were founded on statutory satisfaction based on material showing financial irregularities, suppressed exposures, manipulated accounts and acute liquidity stress. In the absence of convincing material proving arbitrariness, mala fides or illegality, writ interference was not warranted. A provision under the Multi-State Co-operative Societies Act, 2002 for financial aid was held to be enabling only, so no writ could compel the Central or State Governments to fund the bank. The petitions were dismissed. Case-Laws Indian Laws Thu, 05 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390558