TARULATA AMRITLAL BAVA Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) This petition filed under Articles 226 and 227 of the Constitution inter alia assails a Recovery Certificate dtd. 25/9/2018 issued by the Deputy Registrar, Cooperative Societies, Thane City-respondent no. 3 whereby an earlier Recovery Certificate dtd. 12/9/2013 issued against the petitioner, who is the guarantor and who offered a collateral security, to the commercial borrowings by respondent no.6, has been confirmed.

(2.) The case of the petitioner is that, respondent no. 5-The Thane Bharat Sahakari Bank Ltd. (for short "the bank") had sanctioned a term loan facility of Rs.1.90 crores in favour of one M/s. Shree Vaishnavi Enterprises, a sole proprietory concern of respondent no. 6-Amritlal Jayantilal Bava (for short "Amritlal"), who is stated to be the husband of the petitioner. Such term loan facility was availed for purchase of 10 trucks/trailers. On enquiry it was revealed to the bank that there were procedural violations as also misappropriation and fraudulent utilization of the amounts released under the said term loan facility as availed by Amritlal. It was also revealed that the officers of the bank were also involved in such irregularities.

(3.) In July, 2013, Amritlal filed a Dispute bearing no. 125 of 2013 before the Cooperative Court No. II under the provisions of Sec. 91 of the Maharashtra Cooperative Societies Act, 1960 (for short "MCS Act") against the bank inter alia raising issues in relation to a fraud played by the Branch Manager of the bank namely one Mr. Mahendra Bhoir. It appears that in August, 2013 the bank also filed a First Information Report with the Mulund Police Station bearing No. 338 of 2013 against Amritlal, as also against the Branch Manager Mr. Mahendra Bhoir and one Mr. Tejas Lodaya in regard to the fraud as perpetrated by these accused against the bank. The FIR was subject matter of investigation by the Economic Offences Wing, which investigated the complaint in regard to the flow of funds and the manner in which the same was routed to the accounts of Mr. Tejas Lodaya and Ors. It however appears that qua the bank the funds under the said loan were disbursed in favour of Amritlal.