GADCHIROLI ZILLA SAHAKARI KRUSHI AND GRAMIN BAHUUDESHIYA DEVELOPMENT BANK LTD Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) HEARD learned Counsel for the respective parties.

(2.) THESE writ petitions impugn interim winding up orders passed under section 102 (1) of the Maharashtra Co-operative Societies Act, 1960. The petitioners are members of the Managing Committees, who are affected by the impugned orders insofar as they have been visited by its consequences and have been required to hand over to the liquidators appointed under the impugned orders, the custody and control of all the property, effects, actionable claims, books, records and other documents pertaining to the business of the societies, which they were managing, in accordance with section 103 (2) of the said Act.

(3.) AS the possible fall of one More bastion of old style commerce is under consideration, the history of its building and collapse would bear scrutiny.