The Registrar of Co-operative Societies, the first respondent herein, had passed an order dated 24.04.2003, which reads as follows:
PACBs whose owned funds are Rs.20 lakhs and above may accept term deposits from members. However, the PACBs falling under the following categories are not allowed to accept term deposits though their owned funds is Rs.20 lakhs and above.
1.Unviable PACBs
2.PACBs with cover deficit in Cash Credit
3.PACBs having establishment cost at above 2% of loan outstanding less over due.
4.PACBs not maintaining fluid resources.
2. Challenging the said order, Union and the Co-operative Societies have filed the present writ petition.
3. When the matter was taken up for hearing, it is brought to the notice of this Court by the learned Government Advocate that the said circular dated 24.04.2003 has subsequently been revised by circular dated 11.03.2011, wherein the liability criteria has been reduced.
4. In view of the above, the present writ petition is dismissed as infructuous. No costs.
09.01.2017 Index : Yes/No Internet : Yes/No TK To
1.Registrar of Co-operative Societies EVR Periyar High Road, Kilpauk, Chennai 600 010.
2.Joint Registrar of Co-operative Societies 24, Ramakrishna Road, Salem 636 007.
3.Special Officer Salem District Central Co-operative Bank Cherry Road, Salem 636 001.
4.Joint Registrar of Co-operative Societies Namakkal Collectorate 2nd Floor, Namakkal 637 003.
5.The Secretary to Government Co-operation, Food and Consumer Department Government of Tamil Nadu Secretariat, Chennai 600 009.
P.N.PRAKASH, J.
TK W.P.NO.15631 OF 2003 09.01.2017 http://www.judis.nic.in