City

Re-Engagement Quashed: HC Asks Odisha Cooperative Bank’s MD To Hand Over Charge To RCS

By
OB Bureau

Cuttack: The Orissa High Court on Thursday ordered retired bureaucrat Gopabandhu Satpathy, Managing Director (MD) of the Odisha State Co-operative Bank Limited in Bhubaneswar, to immediately hand over the charge to Registrar of Cooperative Societies.

The General Administration Department had re-engaged Satpathy for a period of one year with effect from March 1, 2022. The term expires on February 28.

On January 25, a division bench comprising Chief Justice Dr S Muralidhar and Justice MS Raman quashed the impugned notification dated March 2, 2022, issued by the GA Department re-engaging him as MD of the bank and the consequential order dated March 7, 2022, issued by the Joint Registrar, Co-operative Societies approving the said re-engagement.

The court observed that the re-engagement was done without the approval of RBI and the Registrar of Cooperative Societies. “According to the Banking Regulation Act, 1949 and the Orissa Cooperative Societies Act, 1962, it is mandatory to take their approval,” the bench stated while hearing a PIL filed by one Benu Madhav Tripathy.

OB Bureau

Recent Posts

Newborn Girl Found Abandoned Near Bush In Odisha’s Mayurbhanj

Baripada: A newborn girl was found lying near a bush at Bhanra village under Karanjia…

November 8, 2024

Shah Rukh Khan Bagged ‘Baazigar’ After Salman Khan Rejected It

Mumbai: Salman Khan and Shah Rukh Khan, the leading superstars of Bollywood, came from different…

November 8, 2024

Dhanush & Nithya Menen Starrer ‘Idli Kadai’ To Release On This Date

Mumbai: Actor-filmmaker Dhanush took to his X handle on Friday to announce the release date…

November 8, 2024

National Hockey: Another Big Win Takes Odisha Closer To Knockout Stage

Chennai: Odisha all but booked a berth in the knockout stage of the 14th Hockey…

November 8, 2024

Traffic Restrictions For Panchaka, Badaosa At Dhabaleswar Temple In Odisha’s Cuttack; Check Details

Cuttack: Several traffic restrictions have been imposed to ensure smooth movement of devotees to Dhabaleswar…

November 8, 2024

Late Sidhu Moose Wala’s Brother Is A Carbon Copy Of Him

Mumbai: Sidhu Moose Wala's parents Balkaur Singh and Charan Kaur shared a picture of their…

November 8, 2024

Unique Protest: No Dating, No Sex, No Babies With Men Who Voted For Donald Trump

New York: A group of American women has launched an unprecedented protest against men who…

November 8, 2024

4 More Handicrafts Granted Official Approval In Odisha; Total Number Now 55

Bhubaneswar: Four more handicrafts were granted approval by the Odisha government, taking the total number…

November 8, 2024