Act Number: 39

Act Name: The Multi-State Co-operative Societies Act, 2002

Year: 2002

Enactment Date: 2002-07-03

Long Title: An Act to consolidate and amend the law relating to co-operative societies, with objects not confined to one State and serving the interests of members in more than one State, to facilitate the voluntary formation and democratic functioning of co-operative s as peoples institutions based on self-help and mutual aid and to enable them to promote their economic and social betterment and to provide functional autonomy and for matters connected therewith or incidental thereto.

Ministry: Ministry of Cooperation

Department:

Section 87: Winding up of co-operative bank at the direction of Reserve Bank.
    Notwithstanding anything to the contrary contained elsewhere in this Act, the Central Registrar shall make an order for the winding up of a co-operative bank, if so required by the Reserve Bank in the circumstances mentioned in section 13D of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (47 of 1961).
Previous Section Next Section
Scroll to Top