Maharashtra State Co-op Soc Act - 1960

THE PERSON  CAN FILE APPEAL TO THE JOINT REGISTRAR COOPERATIVE SOCIETY BY ENCLOSING COPY OF RECOVERY CERTIFICATE ISSUED BY DY.REGISTRAR COOP.SOCIETY.

KINDLY NOTE THAT AS PER    PREVAILING PROVISIONS OF SAID ACT 50 %        AMOUNT OF SAID RECOVERY CERTIFICATE SHOULD BE DEPOSITED FOR ADMITING APPEAL AND THEN STAY CAN BE GRANTED TO THE IMPUGNED RECOVERY CERTIFICATE.

IN CASE ANY FINANCIAL PROBLEMS THE    APPELLENT MAY FILE APPROPRIATE APPLICATION FOR SEEKING RELIEF.

THANKS.

Sawant Sir,

Thanx for the reply. But as U are aware no borrower can fulfill the condition of deposit then what else is the remedy.

Secondly, the co-op Bank has extended the Loan to a Partnership Firm & the owners of properties against whom Cert - 101 has been obtained are neother Partners nor Guarantors. They have mortgaged the property as collateral security. What should be the Legal step for these Mortgagors to avoid Public Auction.

YOU MAY FILE A WRIT PETITION TO THE HIGH  COURT MENTIONING FACTS AND ILLEGALITIES BY THE OTHERSIDE..GET IT DRAFTED WITH THE HELP OF LEGAL EXPERTS AND YOU CAN GET STAY FROM THE HIGH COURT.GOOD LUCK.

THANKS.