Dr. Rajkumar Hari Pol (Profession) 09 July 2011
DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE ) 09 July 2011
you have wrong information , this act is applicable to all banks.
Dr. Rajkumar Hari Pol (Profession) 09 July 2011
Respected Sir,
In the case V. Krishnaswamy And Anr. vs The Karnataka Rajya Kaigarika Sahakara Bank Niyamith (AIR 2008 Kant 20) Hon'ble Karnataka High Court clearly stated that co operative banks not come in the purview of securitization act.
Notification of the Central Government dated 28.01.2003 so far as it is applicable to the co-operative banks is challenged in a writ petition before the Hon'ble High court of Karnataka. Consequently, proceedings initiated by the Malleswaram Co-operative Bank Ltd., against a borrower under Securitisation Act has been stayed. (Please send me copy of this stay order)
Dr. Rajkumar Hari Pol (Profession) 10 July 2011
Respected Sir,
Citation 'V. Krishnaswamy And Anr. vs The Karnataka Rajya Kaigarika Sahakara Bank Niyamith (AIR 2008 Kant 20)' by Hon'ble Karnataka High Court. File attached here.
DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE ) 10 July 2011
you have done real hard work and it seems co op banks are excluded.
We await further inputs in the matter.
DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE ) 10 July 2011
Yes the act is not applicable for co op banks, resist action and file WP in high court.
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