https://www.taxtmi.com/caselaws?id=798620 Section 36AAA(1) of the Banking Regulation Act governs RBI-supervised supersession of boards of multi-State co-operative banks. The third proviso to Article 243ZL(1) preserves application of the banking regulatory regime to co-operative societies conducting banking business; consequently, the general six-month constitutional limit does not constrain supersession under Section 36AAA(1). Supersession may be extended, including beyond the elected tenure of the erstwhile board, within the aggregate statutory ceiling of five years. The Administrator must convene a general meeting to elect new directors before expiry of the supersession period specified by the RBI. Consultation with a State Government is not required for a multi-State co-operative bank. en-us Thu, 03 Sep 2026 00:00:00 +0530 Thu, 10 Sep 2026 08:51:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798620 Section 36AAA(1) of the Banking Regulation Act governs RBI-supervised supersession of boards of multi-State co-operative banks. The third proviso to Article 243ZL(1) preserves application of the banking regulatory regime to co-operative societies conducting banking business; consequently, the general six-month constitutional limit does not constrain supersession under Section 36AAA(1). Supersession may be extended, including beyond the elected tenure of the erstwhile board, within the aggregate statutory ceiling of five years. The Administrator must convene a general meeting to elect new directors before expiry of the supersession period specified by the RBI. Consultation with a State Government is not required for a multi-State co-operative bank. Case-Laws Indian Laws Thu, 03 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798620