1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY APPELLATE SIDE Writ Petition No.8626 of 2007 Yashwant Sahakari Bank Ltd. Petitioner Vs. State of Maharashtra & ors. Respondents Mr.Anurag Jain i/b. Mr.B.G.Saraf for petitioner. Mr.S.D.Rayrikar, AGP for resp.nos.1 to 3. Mr.S.S.Patwardhan for resp.nos.4 and 5. CORAM: B.H.MARLAPALLE, J. April 25, 2008 P.C. 1. Heard Mr.Jain, the learned counsel for the petitioner - Bank and Mr.Patwardhan for respondent nos.4 and 5. The learned AGP appears for the respondent nos.1 to 3. The respondent no.6 is the original petitioner. 2. This petition filed under Article 227 of the Constitution has challenged the judgment and order passed by the Divisional Joint Registrar, Co-operative Societies, Kolhapur Division at Kolhapur thereby rejecting the Revision Application No.216 of 2 2004. 3. It appears that the Revisional Authority has proceeded on the basis, inter alia, that the petitioner - Bank obtained the recovery certificate on 17/8/2002 and the present respondent no.5 - Bank obtained the recovery certificate on 18/4/2002 i.e. prior in time. This is factually incorrect. It is now clear from the record that the petitioner - Bank obtained the recovery certificate on 7/8/2001 and the respondent no.5 - Bank obtained such certificate on 18/4/2002 i.e. later in point of time. There is no dispute that the subject property was mortgaged in favour of the petitioner - Bank on 17/2/1998 and the same property was mortgaged in favour of the respondent no.5 - Bank on 1/6/1999 and both the mortgages have been registered. The issue of creating charge and more particularly at earlier point of time either in favour of the petitioner - Bank or the respondent no.5 - Bank will have to be considered in keeping with the provisions of the Maharashtra Land Revenue Code, 1966 and more particularly Section 149 therein read with Sections 48 and 78 of the Transfer of Property Act, 1882. 3 4. It would be, therefore, appropriate that the Revision Application No.216 of 2004 is remanded to the Divisional Joint Registrar, Co-operative Societies, Kolhapur Division at Kolhapur for fresh hearing and decision by setting aside the impugned order so that the parties are provided with an opportunity to advance their arguments on the main issue as to whether in law the charge on the mortgaged property vested first in point of time in favour of the petitioner - Bank or the respondent no.5 - Bank. 5. Hence the impugned order is quashed and set aside and Revision Application No.216 of 2004 is restored to the file of the Divisional Joint Registrar, Co-operative Societies, Kolhapur Division at Kolhapur. The Revisional Authority is directed to hear and decide the revision application afresh keeping in mind the abovesaid observations. 6. Parties to maintain status quo as of now till the revision application is decided on remand. . Petition is disposed off accordingly. 4 . Writ to go to the Revisional Authority forthwith. (B.H.MARL