MAHARASHTRA NAGRI SAHAKARI BANK LIMITED Vs. RAVINDRA

JUDGEMENT

(1.) Admit. By consent of learned counsel for the parties, Letters Patent Appeal is taken up for final hearing.

(2.) This Letters Patent Appeal is preferred by the appellants (original Respondent Nos.4 and 5 in Writ Petition No.2957 of 2009), challenging the order dated 8.9.2009 passed by the learned Single Judge of this Court in the said writ petition, granting Rule and stay to execution, implementation and operation of the recovery certificate dated 21.2.2009 issued by the Assistant Registrar, Co-operative Societies under Section 101 of the Maharashtra Cooperative Societies Act, 1960 ("for brevity, hereinafter referred as the "Cooperative Act"), under Clause XV of the Letters Patent.

(3.) The facts in nutshell are that the present appellant No.1 is a cooperative bank i.e. financial institution and appellant No.2 is its Special Recovery and Sales Officer. Respondent No.1 and 2 herein are original writ petitioners. Respondent No.1 herein availed overdraft facility from appellant No.1, on 25.7.1997. However, in spite of repeated requests and reminders, he deliberately avoided to make repayment thereof and hence, the appellants filed dispute against him before the cooperative court, for recovery of the amount, but the said proceedings were withdrawn by the appellants with a view to initiate proceedings under Section 101 of the Cooperative Act.