Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: VAT RATES :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: due date for vat payment :: VAT Audit :: empanelment :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: cpt
 
 
News Headlines »
 How to save income tax? Best tips for young earners
 Forgot to verify your income tax return? Here's help
 Notification of Government e-Marketplace (GeM) under section 138 of the Income-tax Act
 Income tax returns can be filed even if you missed deadline
 What is the difference between a tax return and a tax refund?
 Improving tax compliance in India
 How to invest in the new LTCG tax regime
 5 Tips to help you save tax
 Why to file income tax return?
  Income Tax For Individuals – Assessment Year 2019–20
 RBI mentions 5 tax implications on investments and savings

Recovery note by registrar not court order: HC
March, 27th 2007
It could be a major jolt for cooperative banks in the country. The Bombay High Court has ordered that the recovery certificates issued by the joint registrar of cooperative societies under section 101 of the Maharashtra Co-operative Societies Act cannot be considered as a decree of a civil court and hence cannot be executed through a court. 
 
The judgment was passed in a case filed by Greater Mumbai Cooperative Bank against Satguru Construction Company and its director Gopal Khetan and Vijay Khetan. Early this year, the high court had issued arrest warrant against the directors for non-payment of dues to the tune of Rs 80 lakh. Satguru Construction had challenged the issue of the warrant. 
 
The high court held that as per the provisions of the Maharashtra Co-operative Societies Act 1960 , no civil or revenue court shall have any jurisdiction in respect of any dispute required to be refereed to the cooperative court for decision and all orders, decisions or awards passed in accordance with the said act or the rules made thereunder shall be final and not liable to be challenged or set aside or modified or revised or declared void by any court upon the merits or upon any ground whatsoever. 
 
The high court has also declared the arrest warrant issued against the directors of the construction company as null and void. 
 
The court said recoveries based on the recovery certificate issued by the registrar of cooperatives can be executed under the Maharashtra Land Revenue Code and the dues recovered as arrears of land revenue as prescribed under the code. 
 
The judgement has come as a shock to the bank as it has wider ramifications or greater delays in making recoveries by cooperative banks. Greater Mumbai Cooperative Banks law firm, Goenka Law Associates, are now in the process of challenging the high courts judgment in the supreme court.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions