« Top Headlines » Open DEMAT Account in 24 hrs  Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)  Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose  Major Financial Changes from August 1, 2026: ITR Deadline, RBI MPC Meeting, Tatkal Ticket Rules & More  Government proposes to ease tax relief conditions for offshore funds  TallyPrime Connected Banking: Automating Banking and Accounting  ITR Filing Deadline 2026: Is July 31 the Last Date to File Your Income Tax Return? Latest Official Update  ITR filing deadline nears: How to file income tax return online on e-filing portal - quick 15-step guide  Will the ITR Filing Deadline Be Extended Beyond July 31 for FY 2025-26? Here's the Latest Update for Taxpayers  Income Tax Refund Delayed for AY 2026-27? 5 Common Reasons Your Refund May Be Stuck and How to Fix It  ITR Filing 2026: FM Nirmala Sitharaman Asks Tax Officials to Let Honest Taxpayers Correct Genuine Mistakes  Will Your FCNR Deposit Stay Tax-Free After Returning to India? Tax Rules Explained for NRIs «  Govt to crack whip on excise evaders, plans tougher steps... India, UAE amend DTAA, sign other pacts... » 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.