PARASHURAM MARUTI KHANKAR Vs. AHMEDNAGAR SAHAKARI BANK

JUDGEMENT

(1.) The challenge in this petition is to the judgment and order dated 18/2/2006 passed by the Co-Operative Appellate Court, Mumbai in RA No.75/2004 by which the Co-Operative Appellate Court has confirmed the order dated 4/11/2004 passed by the Co- Operative Court, Mumbai in Case No.CC/III/1303/1992, refusing to uphold the preliminary objection of the petitioner to the maintainability of the dispute filed by the first respondent Ahmednagar Sahakari Bank Ltd.

(2.) The brief facts are that the first respondent is a Co-Operative Bank while the second respondent is a Society registered under the Maharashtra Co-Operative Societies Act ('Act' for short). Incidentally, the first respondent is also governed by the said Act. The petitioner claims to be the Director of the second respondent society.

(3.) It appears that the second respondent had obtained a loan of Rs.2 Lakhs from the first respondent Bank for 'bill discounting facility'. The loan was disbursed on 29/11/1983. As the repayment of the loan was not made as per the schedule, the first respondent filed a dispute under Section 91 of the Act against the second respondent and its Directors for recovery of amount of Rs.2,76,244.75. It appears that the petitioner raised a preliminary objection to the maintainability of the dispute on two grounds. First is that the dispute as framed and filed under Section 91 of the Act, was not maintainable in as much as the second respondent society was not a member of the first respondent. Secondly, it was contended that the loan having been disbursed on 29/11/1983 the dispute filed on 15/12/1992 was barred by limitation.