https://www.taxtmi.com/caselaws?id=395115 Co-operative banks' banking activity falls within Entry 45 of List I, while Entry 32 of List II governs only their incorporation, organisation and other non-banking aspects. Section 56(a) of the Banking Regulation Act, 1949 extends the banking regulatory framework to co-operative banks by treating references to a "banking company" as references to a co-operative bank for banking purposes. On that basis, co-operative banks are treated as "banks" under the SARFAESI Act, including for the validity of clause (iva) and the 28 January 2003 notification. The statutory recovery mechanism is therefore within Parliament's legislative competence and operates validly against co-operative banks. en-us Tue, 05 May 2020 00:00:00 +0530 Tue, 17 Jun 2025 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395115 Co-operative banks' banking activity falls within Entry 45 of List I, while Entry 32 of List II governs only their incorporation, organisation and other non-banking aspects. Section 56(a) of the Banking Regulation Act, 1949 extends the banking regulatory framework to co-operative banks by treating references to a "banking company" as references to a co-operative bank for banking purposes. On that basis, co-operative banks are treated as "banks" under the SARFAESI Act, including for the validity of clause (iva) and the 28 January 2003 notification. The statutory recovery mechanism is therefore within Parliament's legislative competence and operates validly against co-operative banks. Case-Laws Indian Laws Tue, 05 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395115