BHAOINATH SHARMA Vs. STATE OF BIHAR

JUDGEMENT

(1.) This writ petition has been filed by the petitioner challenging order dated 5.7.2004 (Annexure-2) as well as order dated 4.2.2008/7.2.2008 (Annexure-5), both passed by Registrar, Co-operative Societies, Bihar, Patna (respondent no. 2) and also for restraining the Bihar State Co-operative Bank Limited (respondent no. 3) and its Managing Director (respondent no. 4) from interfering with the rights and liabilities of the petitioner as its member.

(2.) The petitioner bank is a body corporate registered under the provisions of the Bihar Co-operative Societies and the Rules framed thereunder and is a member of the Bihar State Co-operative Bank Limited (respondent no. 3), but the petitioner discharges its function at par with other scheduled banks in terms of the Banking Regulation Act and its functioning is under the supervision and control of the Reserve Bank of India.

(3.) Learned counsel for the petitioner submits that the management of the petitioner bank vests in the Managing Committee constituted under the aforesaid Act, Rules and its bye laws. However, the Managing Committee of the petitioner bank remained under dissolution and the State Government (respondent no. 1) took over its management by appointing an administrator which continued for about 15 years, whereafter on the orders of this court the democratic system in the petitioner bank and other societies were restored and accordingly election was held and ultimately the present Managing Committee was constituted at the special general meeting dated 6.9.2003.