The Madras High Court has issued notice to the Centre on a plea seeking to nominate directors to the Repco Bank according to the provisions of the Multi-State Co-operative Societies Act, reports PTI.
The petitioner has alleged that the bank had framed its own bye-laws bypassing the MSCS Act 2002. The issue related to number of nominated member on the Board of the Bank.
The petitioners first approached the Central Registrar in October last year but as there was no response, they moved the high court.
The judge directed the Union Ministry of Agriculture and Farmers’ Welfare and the Central Registrar of Co-operative Societies to respond within four weeks.