Section 38(6) in The Karnataka Souharda Sahakari Act, 1997
(6)Notwithstanding anything contained in this Act, rules and bye-laws, the Federal Co-operative shall, in case of a Co-operative Bank, if so required in writing by the [The Reserve Bank or National Bank] [Substituted by Act 21 of 2004 w.e.f. 31.3.2004.] in public interest or for preventing the affairs of the Co-operative Bank being conducted in the manner detrimental to the interest of the depositors or for securing proper management of the Co-operative Bank, by order in writing, supersede the board of that Co-operative Bank and appoint an Administrator to manage the affairs of the Co-operative Bank for such period as may specified by the Federal Co-operative in concurrence with [The Reserve Bank or National Bank] [Substituted by Act 21 of 2004 w.e.f. 31.3.2004.].
