- (1.) The petitioner is an agricultural co-operative society. It sought for permission for conversion of certain lands from agricultural to commercial and, also, prayed for amendment of the bye-laws to incorporate the concept of joint venture. The Registrar of Cooperative Societies, Andaman and Nicobar Islands, granted the permission to amend the bye-laws and permitted the co-operative society to formulate plans for promotion of tourism on the lands allotted to the society to improve the economic interest of the members.
(2.) The Registrar of Cooperative Societies, also, permitted the amendment of the bye-laws permitting the society to enter into agreements, deeds and contract, including joint venture agreements, for the development of lands allotted to the society for tourism purpose whenever necessary to attain the objects of the society.
(3.) After such permissions were obtained and bye-laws were amended, the co-operative society entered into a joint venture agreement with the private respondent.;