Section 144 in The Maharashtra Co-Operative Societies Act, 1960
144. Power to Committee of [a Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'State Agriculture and Rural Development Bank', 'Agriculture and Rural Development Bank' and 'an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.] to supervise [a Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'State Agriculture and Rural Development Bank', 'Agriculture and Rural Development Bank' and 'an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.] and make regulations.
- The committee of the [a Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'State Agriculture and Rural Development Bank', 'Agriculture and Rural Development Bank' and 'an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.] shall have a general power of supervision over [a Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'State Agriculture and Rural Development Bank', 'Agriculture and Rural Development Bank' and 'an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.] and may, with the previous sanction of the State Government make regulations, not inconsistent with this Act or the rules made thereunder, for all any of the following matters, namely:-(a)for the inspection of the account books and proceedings of [Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'State Agriculture and Rural Development Bank' 'Agriculture and Rural Development Bank' and ' an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.];(b)for the submission of returns and reports by such banks in respect of their transactions;(c)for the periodical settlement of accounts between such banks and the [State Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'State Agriculture and Rural Development Bank', Agriculture and Rural Development Bank' and 'an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.] being accounts relating to the payment of the amounts recovered by such banks on mortgages transferred to the [State Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'State Agriculture and Rural Development Bank', Agriculture and Rural Development Bank' and 'an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.];(d)for the form in which applications to such banks for loans shall be made and for the valuation of properties offered as security for such loans;(e)for the investment of moneys realised from the mortgagors;(f)the conditions of service of employees of such banks;(g)the programme and policy to be followed by such banks for making loans;(h)the types and extent of security to be obtained by such banks of advancing loans;(i)generally, for the purpose of safeguarding the interest of the parties furtherance of activities of such banks, and carrying out the purposes of this Chapter.[144-1A Reorganisation, amalgamation or division of [Co-operative Agriculture and Rural Multi-purpose Development Bank,] [Section 144-1A was inserted by Maharashtra of 1972, Section 4.] in public interest.(1)Notwithstanding anything in this Act or in any rules or bye-laws made thereunder, it shall be lawful for the State Government to provide from time to time, by an order made under and in accordance with the provisions of section 18, for the reorganisation of the [State Co-operative Agriculture and Rural Multi-purpose Development Bank] [These words were substituted for the words 'State Agriculture and Rural Development Bank' and 'an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f 25-8-2005), Section 8.], either by amalgamating with it all any of the [District Co-operative Agriculture and Rural Multi-purpose Development Bank] [These words were substituted for the words 'Primary Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f 25-8-2005), Section 8.] or otherwise; or for the division of the [State Co-operative Agriculture and Rural Multi-purpose Development Bank] [These words were substituted for the words 'State Agriculture and Rural Development Bank' and 'an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f 25-8-2005), Section 8.] into a [State Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'State Agriculture and Rural Development Bank' and 'an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f 25-8-2005), Section 8.] and one or more [District Co-operative Agriculture and Rural Multi-purpose Development Bank] [These words were substituted for the words 'Primary Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f 25-8-2005), Section 8.] as may be considered necessary; or for the amalgamation or division of all or any of the [District Co-operative Agriculture and Rural Multi-purpose Development Bank] [These words were substituted for the words 'Primary Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f 25-8-2005), Section 8.] among themselves. Accordingly, for the purposes of this section, in section 18 and in any rules made thereunder for the word "Registrar" wherever it occurs, the words, "State Government" shall be deemed to be substituted.(2)Where there is no [District Co-operative Agriculture and Rural Multi-purpose Development Bank] [These words were substituted for the words 'Primary Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f 25-8-2005), Section 8.] in the State or in any part thereof, or [District Co-operative Agriculture and Rural Multi-purpose Development Bank] [These words were substituted for the words 'Primary Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f 25-8-2005), Section 8.] are merged with the [State Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'State Agriculture and Rural Development Bank' and 'an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f 25-8-2005), Section 8.] [State Co-operative Agriculture and Rural Multi-purpose Development Bank] [These words were substituted for the words 'State Agriculture and Rural Development Bank' and 'an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f 25-8-2005), Section 8.] may establish and maintain as many branches as may be deemed necessary; and shall function also as a [District Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'Primary Agriculture and Rural Development Bank' by Maharashtra 41 Of 2005, (w.e.f. 25-8-2005), Section 8.] throughout State or in the area concerned, as the case may be. Any reference to a [District Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'Primary Agriculture and Rural Development Bank' by Maharashtra 41 Of 2005, (w.e.f. 25-8-2005), Section 8.] in this Act, or other law for the time being in force or in any instrument, shall, as the context may require, be construed as a reference to the [District Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'Primary Agriculture and Rural Development Bank' by Maharashtra 41 Of 2005, (w.e.f. 25-8-2005), Section 8.] or its branches concerned, or be read subject to such modifications as may be necessary due to absence of any [District Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'Primary Agriculture and Rural Development Bank' by Maharashtra 41 Of 2005, (w.e.f. 25-8-2005), Section 8.] or due to merger of the [District Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'Primary Agriculture and Rural Development Bank' by Maharashtra 41 Of 2005, (w.e.f. 25-8-2005), Section 8.] or Banks in the [State Co-operative Agriculture and Rural Multipurpose Development Bank.] [These words were substituted for the words 'State Agriculture and Rural Development Bank' and 'an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f 25-8-2005), Section 8.].
