Legal Question in Banking Law in India

The managment of the bank registered under Maharashtra Cooperative Societies Act , 1960 was suspended and an administrator under S110A was appointed.

The administrator is allegedly guilty of cheating and misappropriation of funds.

He continues to hold the office even after the expiry of his term of five years

Question:

When does the administrator need to hold election ? Under what proviso

Can his tenure be extended beyond five years


Asked on 4/06/16, 7:36 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

06.04.2016

Dear Sir / Madam,

The Administrator of any Co-operative Society in Maharashtra is appointed for a maximum 1 (one) year period or tenure only. The Administrator is required to control and manage the affairs of the Society during that period and towards the end of the period, organize and conduct elections to the Managing Committee of the Society. Unless expressly stated, the tenure of the Administrator cannot be extended beyond 15 (fifteen) month ... i,e maximum tenure of a year and a quarter.

Regards,

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Answered on 4/06/16, 10:01 am


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