Sahara Credit Co-operative Society along with Saharayn Universal Multi-purpose Society preferred respective Writ Petitions challenging orders passed by the Ld. Central Registrar.
Upon the matter being taken up for consideration, it was submitted by the Counsels for the Petitioner that the Petitioner Society is a Multi-State Co-Operative Society and is working in the interests of its members in terms of its bye-laws and rules and regulation as formulated under the Multi-State Co-operative Societies Act, 2002 (MSCS Act, 2002 for short) and rules made thereunder.
It was submitted by the Ld. Senior Counsel that the Ld. Central Registrar has vided orders dated 22.07.2020, 24.09.2020, and 19.11.2020 restrained/prohibited the Petitioner Society from taking fresh deposits/new deposits as well as further restrained from renewing the investment/deposits of the existing members. It was submitted that the activity of the Petitioner Society of collecting deposits is well within the ambit of the relevant provisions of the MSCS Act, 2002 as well as the bye-laws of the society
Sh. S.B Upadhyay, the Senior Advocate along with a team of lawyers from Athena Legal comprising of Mr. Simranjeet Singh, Ms. Neha Gupta, and Ms. Rhea Dube appeared before the Hon’ble Court on behalf of Petition Societies. Sh. Chetan Sharma, Ld. , ASJ, and Mr. Ashish Jain, Standing Counsel for CGSC (Central Government) appeared on behalf of Respondent No. 1 and 2.
The matter now ow listed for filing of reply by Respondents and further proceedings on February 19, 2021.
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