section 42
Financing bank not to have a claim on certain sums of money
The Puducherry Co-operative Societies Act, 1972Corporate1972170 sections
Statutory text
No financing bank shall have a charge upon or be entitled to set off towards any debt due from a registered society - (i) any sum invested by a registered society with it out of the reserve fund; or (ii) any sum invested with it by such society out of the provident fund established under section 72 or the gratuity established under section 73.
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