Bombay High Court Dismisses Petition of MAHATEX Directors Seeking Extended Term — Term of Elected Directors Runs from Date of Election, Not from First Board Meeting. The court held that under Section 73CB of the Maharashtra Cooperative Societies Act, 1960 and Rule 58 of the Maharashtra Cooperative Societies Rules, 1961, the five-year term of directors commences from the date of election, not from the date of the first board meeting.
29 Jan 2016The petitioners, ten individuals claiming to be duly elected directors of the Maharashtra State Handloom Cooperative Federation Limited (MAHATEX), fil...
