Section 17A in The Chhattisgarh Co-Operative Societies Act, 1960
17A. Action and liability of Banks under moratorium.
- Where an order of moratorium has been made by the Central Government under sub-section (2) of Section 45 of the Banking Regulation Act, 1949 (No. 10 of 1949) in respect of Co-operative Bank, the Registrar with the previous approval of the Reserve Bank in writing, may, during the period of moratorium, prepare a scheme,-(i)for the reconstruction or re-organisation of the Co-operative Bank; or(ii)for the amalgamation of the Co-operative Bank with any other Bank.
