Case Law Analysis
|Supreme Court of India
Section 36AAA BR Act | RBI Supersession Power for Multi-State Co-op Banks Not Bound by Article 243ZL Six-Month Limit : SC
The Supreme Court held that RBI's supersession power under Section 36AAA BR Act for multi-State co-op banks is not subject to Article 243ZL's six-month cap, allowing up to five years aggregate. It also ruled that consultation with State Government is not required for multi-State banks, unlike single-State societies.