C.S. RAMANATH Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) Petitioners are the retired employees of State Bank of Mysore. They were members of the State Bank of Mysore Employees Credit Co-operative Society 3rd respondent herein. In these writ petitions, they are aggrieved by the order dated 4.11.2011 passed by the Registrar of Co-operative Societies according approval to the amendment of bye-law No.9(b), confirmed in appeal vide order dated 31.12.2013 passed by the 1st respondent while dismissing the appeal filed under Section 106 of the Karnataka Co-operative Societies Act (for short "the Act").

(2.) 3rd respondent Society has been established for the purpose of extending to its members facilities for investment in savings from their income, affording credit facilities to the members and for carrying on such other objectives as are calculated to improve the economic condition and social welfare of the members. Bye-law No.4(1)(c) provides that a candidate for membership must be a person employed in the State Bank of Mysore. The member is required to compulsorily subscribe for savings fund as decided by the Committee of Management from time to time. Such contribution will cease in case of members retiring from service and the contribution shall be paid interest at the rate decided by the Committee. Interest will not be paid after three months of retirement for those retiring from the service of the State Bank. Contribution shall be repaid on cessation of membership within three months of application in the prescribed form. This is evident from bye-law 4(1)(d).

(3.) Bye-law 8 provides for cessation of members. It states as under: