By Express News Service
MALAPPURAM : After the one and division benches of the High Court refused to remain the merger of Malappuram District Cooperative Bank (Malappuram DCB) with the Kerala State Cooperative Bank (Kerala Bank), over 90 main cooperative societies beneath the DCB determined to problem the merger within the Supreme Court on Friday.
Manjeri MLA U A Latheef, who was the president of Malappuram DCB earlier than the amalgamation, leads the authorized battle. He had filed a plea in opposition to the merger earlier than the one bench after which the division bench, however didn’t get a beneficial ruling.
He stated he’ll transfer the SC. “We will continue our fight till we get a favourable order,” he instructed TNIE.
A lawyer related to Latheef stated there are probabilities of getting a beneficial order from the SC. “The general body of DCB is not happy with the merger. We can prove that the amalgamation is not legally sustainable,” the lawyer stated.
The IUML leaders within the basic physique of the district financial institution consider that the amalgamation based mostly on the amendments within the Kerala Cooperative Societies Act will be challenged in the highest court docket.
They may additionally level out that RBI tips weren’t adopted whereas merging the banks. With the registrar issuing an order of amalgamation on Thursday, all DCBs within the state stand merged with Kerala Bank. Earlier, all DCBs within the state, besides Malappuram DCB, had handed resolutions in favour of the amalgamation with Kerala Bank.
MALAPPURAM : After the one and division benches of the High Court refused to remain the merger of Malappuram District Cooperative Bank (Malappuram DCB) with the Kerala State Cooperative Bank (Kerala Bank), over 90 main cooperative societies beneath the DCB determined to problem the merger within the Supreme Court on Friday.
Manjeri MLA U A Latheef, who was the president of Malappuram DCB earlier than the amalgamation, leads the authorized battle. He had filed a plea in opposition to the merger earlier than the one bench after which the division bench, however didn’t get a beneficial ruling.
He stated he’ll transfer the SC. “We will continue our fight till we get a favourable order,” he instructed TNIE.
A lawyer related to Latheef stated there are probabilities of getting a beneficial order from the SC. “The general body of DCB is not happy with the merger. We can prove that the amalgamation is not legally sustainable,” the lawyer stated.
The IUML leaders within the basic physique of the district financial institution consider that the amalgamation based mostly on the amendments within the Kerala Cooperative Societies Act will be challenged in the highest court docket.
They may additionally level out that RBI tips weren’t adopted whereas merging the banks. With the registrar issuing an order of amalgamation on Thursday, all DCBs within the state stand merged with Kerala Bank. Earlier, all DCBs within the state, besides Malappuram DCB, had handed resolutions in favour of the amalgamation with Kerala Bank.
