ARUN T. DHUMALE Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) By Writ Petition (Stamp) No. 95405 of 2020 filed under Article 226 of the Constitution of India, the petitioners have impugned the order dated 28th April, 2020 passed by the respondent no.3 i.e. Reserve Bank of India thereby cancelling the licence of the CKP Co-operative Bank Limited to carry on the banking business in India under Section 22 read with Section 56 of the Banking Regulation Act, 1949 (hereinafter referred as 'the said CKP Bank'). The petitioners in Writ Petition (L) No. 5797 of 2020 have impugned the order dated 22nd Separate, 2020 passed by the respondent no.2 i.e. Department of Cooperation Marketing and Textiles and order dated 4th May, 2020 appointing the Liquidator of the said CKP Bank.

(2.) The petitioners in Writ Petition (Stamp) No. 97828 of 2020 have challenged the order dated 28th April, 2020 passed by the respondent no.2 i.e. Reserve Bank of India thereby cancelling the licence of the said CKP Bank and have also impugned the order dated 4th May, 2020 passed by the Commissioner for Co-operation and Registrar of Cooperative Societies thereby appointing a Liquidator of the said CKP Bank. The petitioners in the said Writ Petition have also prayed for a writ of mandamus to issue directions to the Reserve Bank of India to prepare a scheme of reconstruction or amalgamation of CKP Bank with other Co-operative Bank/Banks having sound financial position in the interest of justice under the supervision and control of the Reserve Bank of India, State of Maharashtra and Union of India. In the alternate prayer clause (c), the petitioners have prayed for a writ of mandamus against the Reserve Bank of India and Union of India to provide sufficient financial aid to the said CKP Bank for its revival and to said CKP Bank to be run under the direct supervision and control of the Reserve Bank of India, State of Maharashtra and Union of India with new Management/Board of Directors as this Court may deem fit.

(3.) By consent of parties this batch of petitions were heard together finally and are being disposed of by a Common Order. Some of the relevant facts for the purpose of deciding these three petitions are as under :-