Excelsior Correspondent
JAMMU, Oct 25: High Court today quashed the order of the Registrar Cooperatives regarding removal of Board of Directors of Citizens Cooperative Bank.
The order was passed in a petition filed by Board of Directors of Citizens Cooperative Bank Ltd seeking quashment of order dated 17.09.2015 passed by Registrar Cooperative Societies Jammu and Kashmir whereby Joint Registrar Cooperative has been appointed as Administrator of Citizens Cooperative Bank Ltd in exercise of powers under Section 29(4) of the Act.
After hearing Advocate Abhinav Sharma appearing for the petitioners whereas Deputy AG RS Jamwal appearing for the State, Justice Alok Aradhe observed, “from perusal of Section 29(3) of the Act, it is evident that the Committee of the Society before expiry of the 90 days of its term has to make arrangements for the constitution of the new Committee”, adding “in the instant case, well before expiry of 90 days, the process of election was initiated by the Committee of the society. However, instead of holding the elections, the Registrar by the impugned order before expiry of the tenure of the Committee of the society has appointed an Administrator”.
“The impugned order therefore is in stark contravention of Section 29 of the Act. The same, therefore, cannot be sustained in the eye of law”, High Court said while quashing the impugned order dated 17.09.2015. The Registrar, Cooperative Societies was directed to hold the elections of the society within two months.
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