SALIM AKBARALI NANJI Vs. UNION OF INDIA

JUDGEMENT

(1.) IN this group of writ petitions, the principal question that arises for our consideration is as to whether Development Co-operative Bank Ltd. (respondent No. 10) initially registered under the Maharashtra Co-operative Societies Act, 1960 (for short, Societies Act) and which is deemed to be registered under the Multi-State Co-operative Societies Act, 1984 (for short, Multi-State Act) could be converted into a joint stock (banking) company under the provisions of Part IX of the Companies Act, 1956 (for short, Companies Act ).

(2.) THE petitioner, in all the four writ petitions, is common. The facts giving rise to these writ petitions are similar and the issues involved are also common, hence all the writ petitions are being disposed of by this common judgment.

(3.) THE principal question that we require to decide in these writ petitions is mainly raised in Writ Petition No. 1443 of 1995 and our decision in this writ petition will decide the fate of other writ petitions also, hence we propose to deal with the said writ petition in detail.