Multi-State Co-operative Societies Act, 2002

The appellants, Sahyadri Co‑operative Credit Society Ltd. and Navhind Co‑operative Credit Society Ltd., had advanced loans to sugar factories Daulat Shetkari Sahakari Sakhar Karkhana Ltd. and Tasgaonkar Sugar Mills Ltd. and obtained a pledge over sugar stock as security. When the factories defaulted, the Commissioner o…

Petitioner Pratibha Ramesh Patel filed a writ petition under Article 32 of the Constitution challenging the constitutionality of sections 2, 12 and 15(a) of the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2012, which incorporated cooperative societies within the SARFAESI regime. The sam…

The Citizen Co-operative Society Ltd., a multi‑state cooperative credit society, claimed deduction under Section 80P(2)(a)(i) of the Income Tax Act, 1961. The Assessing Officer, CIT(A) and ITAT held that the society’s activities amounted to a finance business involving "nominal members" and were not confined to its mem…

The appellant, a successful purchaser at a sealed‑tender sale, sought to enforce a sale certificate issued after the execution of an award under the Multi‑State Co‑operative Societies Act, 1984. The respondents, borrowers, had defaulted on a loan and the property was sold after multiple failed public auctions. The High…

The Court examined whether co‑operative banks, which are societies registered under State legislation, fall within the Union List entry 45 (banking) or the State List entry 32 (co‑operative societies) for the purposes of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act,…

The Supreme Court dealt with contempt petitions filed by M/s Writers and Publishers Pvt. Ltd. (WPL) seeking the disbursement of proceeds from the sale of Super Bazar assets after the Court had earlier ordered a full refund of WPL's investment with interest, subject to deduction of profits. The Court examined the Comptr…