CHAMAN LAL ANGRA Vs. STATE OF PUNJAB

JUDGEMENT

(1.) PETITIONERS are members of erstwhile Nawanshahar Urban Cooperative Bank Limited, Nawanshahar. Vide order, under challenge, the said bank was ordered to be amalgamated with respondent No.5 the Citizen Urban Cooperative Bank Limited, Jalandhar. It is an admitted fact that there were more than 1000 members of Nawanshahar Urban Cooperative Bank Limited, Nawanshahar and out of them only two, the petitioners are aggrieved by the amalgamation. It is apparent from the records that objections filed by the petitioners and some other members were taken note of and decided by the competent authority. In view of provisions of Section 13 of the Punjab Cooperative Societies Act, 1961, the only right which is available to the petitioners is that they can claim refund of their share, as the amalgamation has been accepted by approximately all members of the earlier bank. No case is made out to set aside the same at the instance of the petitioners. Dismissed.