Section 67A(2) in The Karnataka Souharda Sahakari Act, 1997
(2)In the case of co-operative bank which is an insured bank, the Federal Co-operative or the General body of a Co-operative bank shall not decide the winding up or sanctioning a scheme of compromise or arrangement or amalgamation or reconstruction of the bank or make an order for supersession of the committee of management or other managing body (by whatever name called) of the bank and the appointment of an Administrator therefor, unless previous sanction in writing from the Reserve Bank is obtained.
