On Monday, the divisional bench of the High Court in Kerala confirmed the part that was incorporated into the Act on Kerala’s cooperative company, which banned members of the management committees of credit companies such as the State Bank, Bank for Cooperation and Primary Agricultural Companies since their relevant committees.
At the beginning of this year, the court remained the order of the only judge who had pushed as an unconstitutional such section incorporated into the law. The state government appealed against the judgment of a single judge.
The divisional bench found validity in the argument that there could be discrepancies if the person occupies the same contribution for a long time, especially because the financial institutions in the Kerala cooperative sector dealt with huge amounts of money. It is in this situation that the act was changed.
Many cooperative institutions that were unable to pay for the customer’s fixed deposits had members who served more than three consecutive conditions, said.
Published – May 28, 2025 9:01
