Darade Raj 31 January 2026

Cooperative bank send notice for attachment of property

Bank sending notice under the maharashtra cooperative societies act 1960 section 101 156 161 MCS ACT SECT 107 (1)

What to do on next

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Quick Summary

If you've received a notice from a cooperative bank regarding property attachment under the Maharashtra Co-operative Societies Act, it signifies the start of recovery proceedings. It's crucial to act quickly. Options like a one-time settlement, restructuring the loan, or requesting time from the Recovery Officer may be available. Early engagement is key, as stopping proceedings becomes significantly harder once an auction notice is issued.

2 Replies

T. Kalaiselvan, Advocate (Advocate) 31 January 2026

Under Maharashtra Co-operative Societies Act (MCS Act), notices under Sec 101 + Sec 156 + Rule 107(1) usually mean the bank has already started or is about to start coercive recovery proceedings — similar to government recovery of land revenue.

Many cases settle by:

One-time settlement

Restructuring

Time request before Recovery Officer

You may have to take steps accordingly.

In MCS Act matters:

Timing is everything

Once auction notice stage it will be very hard to stop.

Dr. J C Vashista (Advocate ) 01 February 2026

Did you / borrower discuss with Recovery Officer in the office of Maharashtra Registrar Cooperative Societies /Bank to settle the issue amicably and avoid such a stringent situation ?