(1.) Present writ petition has been filed with a prayer that a writ in the nature of certiorari be issued and the impugned order (Annexure P-2) dated 17th November, 2009 passed by Respondent No. 1-Registrar, Cooperative Societies, Punjab, Chandigarh be set aside. It has further been prayed that Respondents No. 2 to 4 be restrained from performing duties as elected Directors of the Respondent-Bank with immediate effect.
(2.) The present case calls for interpretation of Section 26B of the Punjab Cooperative Societies Act, 1961 (hereinafter referred to as, 'the Act'), which reads as under:
(3.) Before this Court ventures to interpret Section 26B, it will be necessary to notice the brief facts of the case.