A co-operative Society is a closed user group
Ref: Kerala SIC recommends a review petition against a verdict given by SC http://www.rtifoundationofindia.com/kerala-sic-recommends-review-petition-against-verd
Comment: A co-operative Society is a closed user group. They associated only for their own socio economic well being. No outsider other than a creditor has any right to know the matters inside a society. Members and creditors has already ample opportunities to know the details of working, his own accounts etc. as per law.
But, if a Society has got a substantial financial benefit from the Government, then the matters (up to an extent) may be made public.
I welcome the SC verdict.