The decision to merge the Malappuram District Cooperative Bank with the Kerala Bank was stayed by the Kerala High Court on Friday. It was on a petition filed by Abdul Majeed, president, Thuvvoor Panchayat Cooperative Bank, that the court issued the order.
The case will be considered on March 23. Though all the district cooperative banks were merged with the Kerala Bank, the Malappuram bank could not be merged as the resolution to this effect could not be passed.
The State issued an Ordinance for the merger. The petitioners moved the court against the use of ordinance route for the merger.
All-party meet mooted
Special Correspondent writes from Thiruvananthapuram: A meeting of the association of primary agriculture cooperative societies here on Friday charted out a series of steps to gauge the impact of various Central laws on the cooperative sector in the State.
The meeting, held at the behest of Cooperation Minister Kadakampally Surendran, decided to urge Chief Minister Pinarayi Vijayan to hold an all-party meeting to discuss the issue. It has also been proposed to send an all-party delegation to Delhi to submit a memorandum to Union Finance Minister Nirmala Sitaraman on the proposal to do away with the income tax concessions enjoyed by the cooperative sector.
An 11-member permanent committee headed by the Registrar of Cooperative Societies would be formed for studying the impact of the frequent changes in the Income Tax Act. The committee will submit a report to the State government on the issue.
