Section 127(2) in Mizoram Cooperative Societies Act, 2006
(2)The Reserve Bank of India is equally empowered to. in the interest of public or for preventing the affairs of a co-operative bank from being conducted in a manner detrimental to the interest of depositors or for securing proper management of the co-operative bank, direct the Registrar to divide a co-operative bank into more than one or amalgamate more than one co-operative bank into one or supercede the management committee of a co-operative bank or wind up the affairs of the co-operative bank as the case may be. Any such direction issued by the Reserve Bank of India shall be binding upon the Registrar ho shall execute such direction immediately, failing which disciplinary proceedings shall automatically lie against the Registrar or concerned officer responsible for not giving effect into the request or direction of Reserve Bank of India.
