Section 30(5) in Karnataka Co-Operative Societies Act, 1959
(5)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 of India, in 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 the co-operative bank, by order in writing, remove the committee of that co-operative bank and appoint an administrator to manage the affairs of the co-operative bank for such period [***] [Omitted by Act 25 of 1998 w.e.f. 15.08.1998.] as may, from time to time, be specified by the Reserve Bank of India.]
