STATE OF MYSORE vs ALLUM KARIBASAPPA & ORS.

The Supreme Court upheld the validity of the notifications issued by the State Government under Sections 54 and 121 of the Mysore Co-operative Societies Act, 1959, which allowed the Government to nominate fifteen members to the Board of Management of the Bellary District Co-operative Central Bank Limited. The Court established that the State's intervention was justified in the interest of safeguarding public funds, given the financial irregularities reported by the Reserve Bank of India. The appeal was dismissed, affirming the High Court's decision.