The Cooperative Dept of Kerala says the High Court has upheld KSCARDB’s general body’s decision to put the bank under an administrator, reports Hindu.
It is worth repeating that a no-confidence motion was adopted by the bank’s general body. Additional Registrar of Cooperative Societies (Consumer) Jyothiprasad R. is the administrator.
The KSCARDB, is the apex bank for the primary cooperative agricultural and rural development banks, has representatives of 76 cooperatives in its general body. The no-confidence motion was supported by 39 members while 36 opposed it.