https://www.taxtmi.com/caselaws?id=307765 A registered cooperative credit society has a separate legal identity, so service is ordinarily rendered by the society itself and ex-Secretary, ex-President and other office bearers do not become service providers merely by holding office, because they lack privity of contract with depositors. Where the society is used as a cloak for fraud, illegality or misfeasance, the corporate veil may be lifted and personal liability may be fastened on the office bearers on the facts proved. The operative distinction is therefore between ordinary corporate immunity for office bearers and exceptional personal responsibility where deceitful conduct is established. en-us Mon, 19 Dec 2016 00:00:00 +0530 Fri, 05 May 2023 21:29:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307765 A registered cooperative credit society has a separate legal identity, so service is ordinarily rendered by the society itself and ex-Secretary, ex-President and other office bearers do not become service providers merely by holding office, because they lack privity of contract with depositors. Where the society is used as a cloak for fraud, illegality or misfeasance, the corporate veil may be lifted and personal liability may be fastened on the office bearers on the facts proved. The operative distinction is therefore between ordinary corporate immunity for office bearers and exceptional personal responsibility where deceitful conduct is established. Case-Laws Indian Laws Mon, 19 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307765