Question on Applicability of RDB Act to Recovery Proceedings by State Co-Operative Banks Referred to Larger Bench: Bombay High Court

The Bombay High Court has referred an important question of law to a larger Bench concerning the jurisdiction over recovery proceedings initiated by State Co-operative Banks. The core issue is whether such recovery proceedings are governed by the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 and whether the jurisdiction of Co-operative Courts under Section 91 of the Maharashtra Co-operative Societies Act, 1960 stands excluded due to…