Section 37(7) in The Delhi Co-Operative Societies Act, 2003
(7)Notwithstanding anything contained in this Act, the Registrar shall in the case of a co-operative bank, if so required in writing by the Reserve Bank or NABARD in the public interest or for preventing the affairs of the co-operative bank being conducted in a manner detrimental to the interest of the depositors or for securing the proper management of a co-operative bank, pass an order for the supersession of the committee of that co-operative bank and appoint an administrator therefor, for such period or periods not exceeding [three hundred and sixty five days] [Substituted by Delhi Act 8 of 2006, section 5, for ninety days from the close of co-operative year (w.e.f. 13-1-2007). Earlier subs. by Delhi Act No. I of 2005, section 8, for Sixty days (w.e.f. 1-4-2005)] in the aggregate, as may, from time to time be specified by the Reserve Bank.
