ALTAF HUSSAIN Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) WRIT Petition by persons claiming to be members/shareholders of the third respondent - private co-operative bank who it appears were on the Board of Directors of the Bank.

(2.) IT is claimed that the first petitioner was the Chairman and second petitioner was a director at the point of time when the management of the bank was superceded and management of the affairs of the bank was entrusted to the second respondent - Joint registrar of Co-operative Societies.

(3.) THE present writ petition is in the wake of the order dated 11-7-2008 (copy at Annexure-F)passed by the second respondent - Joint registrar of Co-operative Societies purporting to be an order in exercise of the powers of the Registrar under Section 64 of the karnataka Co-operative Societies Act. 1959 (for short 'the Act') and for the purpose of inquiring into the manner of management of the bank earlier, particularly, when it was in the management of the elected representatives of the shareholders of the Bank and in that contefct appointing one K, B, Chennegowda retired Assistant Registrar of Co-operative societies as Inquiry Officer and fixing his remuneration for conducting inquiry at rupees one lakh.