WP No. 4409/09 1 IN THE HIGH COURT AT BOMBAY APPELLATE SIDE, BENCH AT AURANGABAD WRIT PETITION NO. 4409 OF 2009 Shaikh Nizam Shaikh Jainnuddin, R/o. Subhash Road, Beed, Tq. & Dist. Beed & Ors. ....Petitioners. Versus The State of Maharashtra, Through Principal Secretary, Co-operation & Textile Department, Mantralaya, Mumbai - 32 & Ors. ....Respondents. Mr. C.V. Thombre, Advocate for petitioners. Mr. S.K. Kadam, A.G.P. for respondent Nos. 1, 3, 4 & 5. Mr. A.R. Kale h/f. Mr. A.R. Joshi, Advocate for respondent No. 2. CORAM : NARESH H. PATIL & T. V. NALAWADE, JJ. DATED : 29th September, 2011. PER COURT : 1. Heard. 2. The learned counsel appearing for respondent No. 2 - Reserve Bank of India placed on record order dated 18th of March 2010 passed by the Executive Director of Reserve Bank of India. In para 7 of the order, it is observed that :- WP No. 4409/09 2 "7. Having regard to the above facts the RBI is satisfied that allowing the bank to carry on banking business any further would be detrimental to the interests of the present and future depositors and hence, the licence granted to the bank to conduct banking business deserves to be cancelled. Accordingly, the licence dated November 20, 1996 granted to Hina Shahin Co-operative Urban Bank Ltd., Beed (Maharashtra) to conduct banking business in India under Section 22 of the Act is hereby cancelled. This order makes it obligatory on the part of the bank to stop conducting, with immediate effect, 'banking business' within the meaning of Section 5(b) of the Act, including acceptance and repayment of deposits." 3. In the light of the same, we are not inclined to interfere in the matter. The petition is rejected. [ T. V. NALAWADE, J.] [ NARESH H. PATIL, J.] ssc/