with ref to the article posted on
https://www.lawyersclubindia.
i wish to ask few points (as this matter is gone to the courts of ACJM of mount abu for 138 from the financier co-operative society), i purchased the book "Rajasthan Co-operative Societies Rules &
Regulations 2001, amended till 2008.
1. the section 58 of this book "Disputes which may be referred to arbitration", page 32, the complete write up is "Notwithstanding anything contained in any law for the time being in force, if any
dispute touching the constitution, management, or the business of a co-operative society arises - (e) between the society and the surety of a member, past member, or a deceased member, or a person other than a member who has been granted a loan from the society or with whom the
society has or had transaction under section 52, weather such a surety is or is not a member of a society, such dispute shall be referred to the Registrar for decision and no court shall have the jurisdiction to entertain any suit or other proceeding in respect of such dispute".
as per the above, will it be OK to inform the ACJM court about this section 58 of the co-operative society act?
2. in normal course, 5% maximum Over Due interest is chargeable on the interest due of that month installment, in our case our emi was 47777/= where 27,777/= was principal and 20,000/= was interest. if we do not pay in time then over due becomes 5% of 20000/= i.e. 1000/= not
5% of 47777/= i.e. 2389/=. this has been in practice by many a banks but i do not know how do i put this forward for question to the Registrar?
if you could help me in this.
