Q: Can a Cooperative society invest in Mutual Fund ?
Jayanta Kr Lahiri
I C Naik
Ordinarily Surplus Cooperative Funds are allowed to be parked in any other Co-operative say Cooperative Bank.
Some State Cooperative laws permit any other mode of investment in those avenues where Public Trusts are permitted under the Public Charitable Trust Act.
Registrar also has got powers in some states to approve any other safe mode on application made beforehand. Mutual Funds would not find favour in this matter.