Bombay HC Rules: Entire Managing Committee Of Registered Society Responsible For Granting Loan To A Fraud, Not Just Signing Authority

In a recent judgment, the Bombay High Court ruled that the entire management committee of a cooperative society is responsible for financial losses caused by fraudulent loan applicants, dismissing the liability of individual committee members who merely signed disbursement cheques.  The decision came in response to a writ petition filed by Brihanmumbai Police Karmachari Sahakari

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