MONICA SAGAR KATE Vs. JOINT REGISTRAR COOPERATIVE SOCIETIES

JUDGEMENT

(1.) These Petitions are filed challenging orders dtd. 31/12/2021 passed by the Divisional Joint Registrar allowing Revision Applications filed by Respondent Credit Society and remanding the proceedings before the Assistant Registrar for a fresh decision. The Assistant Registrar had rejected proceedings filed by Respondent-Credit Society for issuance of recovery certificate under Sec. 101 of the Maharashtra Co-operative Societies Act 1960 (Act of 1960).

(2.) Petitioners are borrowers who have availed credit facilities from Respondent No.3-Credit Society. They claim that the entire amount due under said Credit facilities have been repaid by them with interest, on account of which the Credit Society issued various 'No Dues Certificates' to Petitioners. It is further contended that after issuance of 'No Dues Certificates', the Respondent-Credit Society executed Release Deeds in their favour. Facts in all the Petitions are similar. For brevity, facts in Writ Petition No.8440/2022 are narrated as follows.

(3.) Chatrapati Sambhaji Maharaj Sahakari Patsanstha, Baramati (Respondent No.3) is a Credit Society registered under the provisions of the Act of 1960. Petitioners are members of the Respondent-Society which granted and disbursed loan of Rs.14,000,00.00 to them for business purposes. In pursuance of the loan transaction, Petitioners executed promissory note, acceptance letters, consent letter of sureties, loan agreement, etc. in favour of the RespondentSociety. Petitioners also offered agricultural property admeasuring 10 Acre out of Survey No.45/5/B at Baramati as well as residential Unit No.3 in the building 'Kate Pride' at Baramati, District Pune towards security for the loan. Petitioners also executed Mortgage Deed in favour of the Respondent-Society on 28/8/2015, which came to be registered in the office of Sub-Registrar of Assurances, Baramati.