https://www.taxtmi.com/caselaws?id=309666 Kerala High Court examined whether Kerala State Co-operative Bank, District Co-operative Banks and Urban Co-operative Banks fall within the statutory meaning of co-operative banks under the SARFAESI Act and the Banking Regulation Act, 1949, and concluded that they do. It also analysed legislative competence and treated enforcement of security interest as falling within the concurrent field, not as an encroachment on the State field relating to co-operative societies, so the SARFAESI Act operates against such banks. The Court further upheld the Central Government notification dated 28-1-2003 as a valid extension of the Act to these institutions, and rejected the challenge to applicability, leaving the petitioners to pursue statutory remedies. en-us Wed, 12 Dec 2007 00:00:00 +0530 Fri, 15 Sep 2023 14:49:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309666 Kerala High Court examined whether Kerala State Co-operative Bank, District Co-operative Banks and Urban Co-operative Banks fall within the statutory meaning of co-operative banks under the SARFAESI Act and the Banking Regulation Act, 1949, and concluded that they do. It also analysed legislative competence and treated enforcement of security interest as falling within the concurrent field, not as an encroachment on the State field relating to co-operative societies, so the SARFAESI Act operates against such banks. The Court further upheld the Central Government notification dated 28-1-2003 as a valid extension of the Act to these institutions, and rejected the challenge to applicability, leaving the petitioners to pursue statutory remedies. Case-Laws Indian Laws Wed, 12 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309666