High Court of Karnataka Quashes Proceedings Against Chairman of Co-operative Society in KPID Act Case — Co-operative Society Not a Financial Establishment Under KPID Act. The court held that a co-operative society registered under the Karnataka Co-operative Societies Act, 1959 is excluded from the definition of 'financial establishment' under the Karnataka Protection of Interest of Depositors in Financial Establishment Act, 2004, and therefore proceedings under the KPID Act are not maintainable.
20 Jun 2018The petitioner, Anand Balkrishna Appugol, was the Chairman of Shree Krantiveer Sangolli Rayanna Co-operative Society Limited, a co-operative society r...
