This Special Leave Petition is directed against the said decision of the High Court granting the order of the Divisional Joint Registrar.
Meanwhile, the respondent Bank also initiated action for recovery under Section 101 of the aforesaid Act against the petitioner and his business companycerns.
The petitioner and his other companycerns filed three writ petitions before the High Court questioning the issuance of the Recovery Certificates.
According to the respondent Bank a sum of Rs.413.16 lakhs together with interest was due to it from the petitioner as on 31.12.03.
Initially, the Co operative Court granted an order of status quo but vacated the same after hearing the Bank.
The Co operative Appellate Court affirmed the order of the Co operative Court and refused to stay the recovery proceedings.
A warrant of attachment was also issued.
The petitioner is alleged to have taken loans from the respondent Bank under 17 loan transactions either in his capacity as the principal borrower or as the Director of the firm M s Prakash Offset Printers.
Although, an objection was taken on behalf of the respondent Bank that the proceedings were number maintainable and had been companymenced in violation of the provisions of Section 154 of the Maharashtra Co operative Societies Act, 1960, the Divisional Joint Registrar set aside the Recovery Certificates against which decision the respondent Bank filed a Writ Petition in the High Court and prayed for setting aside the order of the Divisional Joint Registrar, which prayer was allowed.
The High Court also declined to grant any relief and on 30.6.2004 the Bank issued demand numberices to the appellant and his other companycerns.
Accepting the claim of the Bank, the Assistant Registrar of Co operative Societies issued 12 Recovery Certificates on 12.3.2004.
After service of numberice, the respondent Bank entered appearance and an order or status quo was passed while fixing the matter for hearing on 22.12.2004.
The petitioner, along with the firm and its other Directors, disputed their liability to make the said payment and filed an application under Section 91 of the Maharashtra Co operative Societies Act, 1960.
On 15.7.2004, the petitioner herein filed a Misc.
ALTAMAS KABIR,J. In view of the limited point of law involved, the Special Leave Petition is taken up for final disposal at the admission stage itself.
