GREATER BOMBAY COOP. BANK LTD. vs M/S. UNITED YARN TEX PVT. LTD..

The Supreme Court directed that a larger bench consider the issues arising from the recovery of debts by co-operative banks under the Co-operative Societies Acts of Maharashtra and Andhra Pradesh in light of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The court noted the significant implications of the High Courts' judgments, which have resulted in substantial recoveries being held up. The matter was referred for early disposal due to its urgency and importance.