Supersession of Managing Committee of Cooperative Bank

44 AL. Supersession of Managing Committee of Cooperative Bank. – Notwithstanding anything contrary contained in this Act Registrar Shall if so required in writhing by the Reserve Bank in public interest or for preventing the affairs of the Cooperative Bank being conducted in a manner detrimental to the interests of the depositors or for securing the proper management of the Cooperative Bank; pass an order for the supersession of the managing committee or other managing body (by whatever name called) of that Cooperative Bank and appointment of an administrator therefore, upon such terms and for such periods not exceeding five years in the aggregate, as may from time to time be specified by the