- 1 - 905.wp.1.2011 skt IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION WRIT PETITION NO.1 OF 2011 Mr.Dudharkar Ganesh Vithal Rao, Shri Jyotiba Sahakari Bank Ltd. ..Petitioner -Versus- The Commissioner for Co-operation and Registrar of Co-operative Societies, Maharashtra State, Pune & Ors. ..Respondents .......... Mr.N.V.Sharma for the Petitioner. Mr.S.N.Bhosale, AGP for the Respondents. .......... CORAM : RANJIT MORE, J. DATE : 17TH MARCH 2011. P.C. 1 Heard learned counsel for the parties. 2 The petitioner, by this petition has challenged the order dated 20th December 2010 passed by respondent no.1, whereby order of winding up under Section 110-A(ii) of the Maharashtra Co-operative Societies Act in respect of petitioner-Bank is passed and Board of Liquidator is appointed. Admittedly, against this order, substantial appeal lies under Section 152 of the Co-operative Societies Act, 1960 (hereinafter referred to as “the said Act”) before the State Government. - 2 - 905.wp.1.2011 3 The learned counsel for the petitioner submitted that the petitioner, in fact, has approached the State Government by filing an appeal under Section 152 of the said Act subsequent to the date of filing of the present writ petition. A copy of the said appeal memo is also produced to substantiate his contention. 4 In view of the facts and circumstances, the petitioner has an alternate efficacious remedy which they have already adopted, the present writ petition is not maintainable. I therefore pass the following order : (i) The Writ Petition is disposed of as not maintainable. (ii) In the interest of justice, the Appellate Authority viz. Minister for State Cooperation and Textile Department is directed to dispose of petitioner’s appeal as expeditiously as possible and preferably within a period of twelve weeks from the date of receipt of a copy of this order. 5 At this stage, the learned counsel for the petitioner sought stay of the impugned order. Mr.Bhosale, learned AGP, however on instructions, makes statement that the Board of Liquidator has already taken charge of the Society. In these facts and circumstances, stay cannot be granted. - 3 - 905.wp.1.2011 6 The petitioner, in pursuant of the order dated 18th January 2011 of the Division Bench of this Court, has deposited the amount of Rs.1.24 crores in aforesaid writ petition. The Registry is directed to invest the said amount in nationalized bank initially for a period of six months. It is made clear that the said amount shall be refunded to the petitioner subject to final outcome of the appeal pending before the State Government. [ RANJIT MORE, J. ] -