Lsp IN IN IN THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION WRIT PETITION NO.1882 of 2004 Indu R. Krupalani & anr. ...Petitioner V/s. Jankalayan Sahakari Bank Ltd. & Ors. ...Respondent Mr. S.P.Kanuga i/b. S.V.Vora for the petitioner. Mr. Shailesh Shah with Mr. Nikhil Rajani i/b. V.Deshpande & Co. for respondent no.1. CORAM CORAM CORAM : A.M.KHANWILKAR,J. : A.M.KHANWILKAR,J. : A.M.KHANWILKAR,J. DATED DATED DATED : 13th October, 2008 : 13th October, 2008 : 13th October, 2008 P.C. . This petition will have to be disposed of in view of the decision of the Apex Court reported in 2007 (6) 2007 (6) 2007 (6) SCC SCC SCC 236 Greater Bombay Cooperative Bank Ltd. v/s. 236 Greater Bombay Cooperative Bank Ltd. v/s. 236 Greater Bombay Cooperative Bank Ltd. v/s. United United United Yarn Tex (P) Ltd. Yarn Tex (P) Ltd. Yarn Tex (P) Ltd. In view of the exposition in the decision of the Apex Court, the petitioners will have to be given opportunity to carry the matter before the Revisional Authority under the provisions of Maharashtra Cooperative Societies Act. 2. In the circumstances, this petition is disposed of with liberty to the petitioners to take recourse to the remedy of revision, if so advised. That be done within four weeks from today failing which it will be open to the respondent Bank to proceed against the petitioners 2 in accordance with law in relation to the Recovery Certificate already issued against the petitioners. All questions in the proceedings before the Revisional Authority are left open to be decided on its own merits. The amount already deposited by the petitioners in this Court in the sum of Rs.5,25,000/- shall be provided adjustment by the Revisional Court while considering prayer for entertaining Revision Application and/or grant of stay. Petition disposed of on the above terms. [A.M.KHANWILKAR,J.] [A.M.KHANWILKAR,J.] [A.M.KHANWILKAR,J.]