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| Show cause notice regarding Supersession of Board of Directors of CC Bank stayed | | | Early Times Report
Jammu, July 4: Justice Tashi Rabstan of J&K High Court Jammu Wing in a significant order after hearing Adv Abhinav Sharma appearing for the Board of Directors of Citizen's Cooperative Bank through its Chairman Dinesh Gupta, has stayed the operation of Show Cause Notice bearing No RCS/B&F/CCB-1/1002-04 dated June 25, 2014 whereby the Board of Directors had been asked to explain their position within fifteen days as to why the elected board may not be superseded. While staying the show cause notice issued by Registrar Cooperatives Societies J&K, Justice Tashi Rabstan issued notice to Mr. Manohar Lal Sharma Minister for Cooperatives J&K Govt against whom specific allegations of malafide have been leveled by Adv Abhinav Sharma in the open Court while arguing the case. Besides Minister for Cooperatives, notices were also issued to Commissioner/Secretary Cooperatives Dept, Registrar Cooperative Societies. During the Course of arguments of Advocate Abhinav Sharma strenuously argued that ever since the appointment of Manohar Lal Sharma as Minister for Cooperatives, the management of the several cooperative societies have been superseded including Citizens' Cooperative Bank and he referred various provisions of Cooperative Societies Act including a latest judgment of the Apex Court in order to strengthen his case. (JNF) |
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