Dear Experts,
Can a Deputy Registrar issue Certificate of recovery u/s 101 against persons who are not members of co-op bank. In the present instance they have mortgaged agricultural land for loans availed by members of the co-op bank.
MANOJ HARIT (LAWYER) 12 January 2011
Dear Experts,
Can a Deputy Registrar issue Certificate of recovery u/s 101 against persons who are not members of co-op bank. In the present instance they have mortgaged agricultural land for loans availed by members of the co-op bank.
Rajesh Tekale (Lawyer) 13 January 2011
No proceedings can be initiated against non members under MCS act 1960. Bank can proceed against members mortgaged property.
AMAR RANU (Legal consultancy) 13 January 2011
As per Bombay High Court judgment,proceedings u/s 101 can be initiated against both,member as well as non-member.
MANOJ HARIT (LAWYER) 14 January 2011
Dear Mr. Rajesh & Mr. Amar,
Can you both please provide citations? As the views are differing.
Regards,
MANOJ HARIT
AMAR RANU (Legal consultancy) 14 January 2011
Any person keen on citation,can go to law library and refer MLJ 2001-2006,the said citation can be located.
It is authored by Dr.Justice Chandrachud of Bombay High Court.
DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE ) 09 March 2011
This is a basic fact irrespective of citaions , lender who ever it may be has rights to move against the secured properties. Only restriction is for forum through which to contest and enforce rights.
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